The concept of the Ponzi scheme did not end in 1920. As technology changed, so did the Ponzi scheme. In 2008, Bernard Madoff was convicted of running a Ponzi scheme that falsified trading reports to show a client was earning a profit. Now in the CryptoCurency we had BitConnect just 2 days ago turning out to be one.
Regardless of the technology used in the Ponzi scheme, most share similar characteristics:
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A guaranteed promise of high returns with little risk
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Consistent flow of returns regardless of market conditions
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Investments that have not been registered with the Securities and Exchange Commission (SEC)
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Investment strategies that are a secret or described as too complex
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Clients not allowed to view official paperwork for their investment
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Clients facing difficulties removing their money
Hope that the characteristics will guide/help you in you next investments.