At any given time, there are hordes of civil fraud recovery actions ongoing in various courts in the United States. These can range from fairly small matters, involving only a handful of people and with only a few thousand dollars at issue, to enormously complex international fraudulent schemes involving billions of dollars of diverted, misused, or stolen money from thousands or even millions of victims.
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. This form of scheme originated with its namesake, Charles Ponzi, who defrauded millions in the 1920s by falsely claiming he could sell international postal coupons at 100 percent profit. Ponzi financed his purported business through promissory notes, which he always readily repaid.
The information contained in this blog is made available for educational and informational purposes and is not a substitute for legal advice or reading the rules and regulations discussed herein. In any particular case, you should consult with lawyers at the firm with the most experience on the topic, another attorney of your choice, or law enforcement. Depending on your specific situation, answers other than those outlined in this blog may be appropriate. Your use of this blog and website creates no attorney client relationship between you and Kozyak Tropin & Throckmorton LLP.