More Ponzi Schemes

The Wall Street Journal has recently had two more articles concerning alleged Ponzi schemes.

The first is titled “Our Ponzi Nation: Florida Entrepreneur Hit With Charges.”

The second is titled “Alleged Ponzi In Colorado Has Shades of Madoff Affair.”

Also, there was an interesting story from April 17 titled “Report Says SEC Missed Many Shots At Stanford.”

I have been intermittently commenting about the growing number of investment frauds being uncovered.  Ponzi Schemes, although seemingly common, are just one form of investment fraud.

The main question remains how much investment fraud is still undiscovered?  As I commented in the March 7 post, “…I would say that there is much investment fraud still “out there” (i.e. yet to be uncovered) and the true figure will likely prove to be eye-popping.”

As well, I believe there are significant amounts of other fraud types still undiscovered, such as that at the corporate level.  This corporate fraud includes corporate accounting misrepresentation.  Of course, Enron remains the most famous example of corporate accounting fraud.

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SPX at 1186.69 as this post is written