"Largest Ever Ponzi Scheme In Maryland" Rocks Investors, $345 Million Vanishes

in #ponzi • 6 years ago (edited)

Three people are in custody after what was announced as the biggest Ponzi scheme in Maryland history.

Totally $345 million from investors, the scam was touted as being able to resell consumer debt to investors. The con artists were able to draw in money from individuals such as small business owners, athletes, lawyers, accountants, and retirees.

They were also able to bring in money from feeder funds.

In typical Ponzi scheme fashion, roughly $200 million of the total was used to pay earlier investors.

Click on image to read full article.

steem.jpg

#scam #notoroginalcontent #maryland #investors
6 years ago in #ponzi by
$470.76
  • Past Payouts $470.76, 0.00 TRX
  • - Author $355.62, 0.00 TRX
  • - Curators $115.14, 0.00 TRX
289 votes
Reply 16
Sort:  
  • Trending
    • [-]
     6 years ago 

    Yeah ponzi scheme has done so much damage to the global economy

    $0.48
    • Past Payouts $0.48, 0.00 TRX
    • - Author $0.36, 0.00 TRX
    • - Curators $0.12, 0.00 TRX
    1 vote
    Reply
    [-]
     6 years ago 

    This is a case of DYR...Many prolly saw Merrill and failed to see that wasn't Lynch behind the dash....Greed is often a very costly 'investment'.

    Peace.

    $0.35
    • Past Payouts $0.35, 0.00 TRX
    • - Author $0.26, 0.00 TRX
    • - Curators $0.09, 0.00 TRX
    2 votes
    Reply
    [-]
     6 years ago 

    Bitconn-eeeeeeeect!!!

    $0.14
    • Past Payouts $0.14, 0.00 TRX
    • - Author $0.11, 0.00 TRX
    • - Curators $0.03, 0.00 TRX
    3 votes
    Reply
    [-]
     6 years ago 

    213 years in prison...?

    yet big bankers still dont get one and slaps on wrists?

    [-]
     6 years ago 

    Living in Maryland, I find this disturbing...
    powman
    https://pocketchangeriches.com

    $0.00
      Reply
      [-]
       6 years ago 

      Yikes! Does that ever suck.

      $0.00
        Reply
        [-]
         6 years ago 

        Ponzis schemes are always a bad thing and for this case a 364$ million frauded are really upsetting....

        $0.00
          Reply
          [-]
           6 years ago 

          You got a 78.57% upvote from @upmewhale courtesy of @steemium!

          Earn 100% earning payout by delegating SP to @upmewhale. Visit http://www.upmewhale.com for details!

          [-]
           6 years ago 

          Thank you so much for using our service! You were protected from massive loss up to 20%

          You just received 85.56% upvote from @onlyprofitbot courtesy of @steemium!

          Want to earn more with us? Our APR can reach as high as
          15% or more!

          More portion of profit will be given to delegators, as the SP pool grows!

          Comment below or any post with "@opb !delegate [DelegationAmount]" to find out about current APR, estimated daily earnings in SBD/STEEM

          You can now also make bids by commenting "@opb !vote post [BidAmount] [SBD|STEEM]" on any post without the hassle of pasting url to memo!

          * Please note you do not have to key in [] for the command to work, APR can be affected by STEEM prices
          [-]
           6 years ago 

          You got a 32.12% upvote from @booster courtesy of @steemium!

          NEW FEATURE:

          You can earn a passive income from our service by delegating your stake in SteemPower to @booster. We'll be sharing 100% Liquid tokens automatically between all our delegators every time a wallet has accumulated 1K STEEM or SBD.
          Quick Delegation: 1000| 2500 | 5000 | 10000 | 20000 | 50000

          Coin Marketplace

          STEEM 0.28
          TRX 0.13
          JST 0.032
          BTC 61626.58
          ETH 2940.28
          USDT 1.00
          SBD 3.66