Ponzi

New Yorker Madoff conned tens of thousands of people around the world by running a shell pyramid, or Ponzi, scheme -- where new clients' capital was stolen to pay off existing clients and create the illusion of returns, until it collapsed.

Speaking at a fringe meeting at the Conservative conference in Manchester, Ms Ibrahim branded the triple lock a "Ponzi scheme" - a type of investment fraud which pays profits to earlier investors with funds from more recent investors.

After a months-long investigation, authorities have arrested a Hemet woman of suspicion of extracting nearly $200,000 in a “Ponzi scheme” involving her wholesale avocado business.

However, sheriff’s deputies say Carrasco-Ramirez engaged in a Ponzi scheme with the investment fund — a scam wherein earlier investors are paid off not with company profits but with the cash of later investors, which creates a false impression of growth and leads to additional investment.

QNET, a global lifestyle and wellness marketing company allegedly linked to the recruitment scam, has been banned from operating in Ghana since 2022 for allegedly running a Ponzi scheme.