We’ve previously written about banks and Ponzi schemes and potential liability for aiding and abetting. Now let’s assume a lawsuit has been filed. Banks have a treasure trove of information readily available to them. Because the government requires it.
About Tal Lifshitz
This author has yet to write their bio.Meanwhile lets just say that we are proud Tal Lifshitz contributed a whooping 4 entries.
Entries by Tal Lifshitz
Fraudsters cannot act alone to perpetrate their schemes. They universally require professionals — banks, accountants, law firms, or a combination of all of the above — to provide legitimacy and enable a fraud to survive.
1. Don’t Panic; 2. Recognize that you are a victim; 3. Cut off communications; 4. No social media; 5. Be cautious about taking payments from the fraudster.
Madoff. Stanford. Rothstein. “Ponzi” schemes are now ubiquitous — the type of fraud where investors are repaid their own money so that the scheme appears to be a successful investment and more investors can be hoodwinked.
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