09 May Ponzi Scheme Cases
Anyone caught in a Ponzi scheme will feel a variety of emotions from shame to anger to regret. For many people there is no coming back from the damage those schemes can cause. In these scenarios, people end up losing their investments and when the scheme is uncovered there are not enough assets to pay back the money lost. Ponzi schemes have run the gamut in the ways they are operated, but the foundation is financial fraud and investors not being made whole. The operators of the Ponzi scheme take people’s money, enrich themselves, all the while conveying their legitimacy to the world. Charles Ponzi, the person whom Ponzi schemes were named after, sold securities promising huge returns to the investors and it turned out to be a scam. As time went on, the scams have become more sophisticated never swaying from the ultimate goal of defrauding investors. Ponzi schemes have not disappeared. People like Bernie Madoff, Richard Stanford, and countless others have manufactured their own Ponzi schemes and once authorities were able to catch on were also sent to prison. There have been collection efforts on the part of authorities and defrauded investors and the lucky ones have been able to recover some of their money.
Bernie Madoff was arguably the biggest Ponzi scheme operator in financial history and the effects are still being felt today. Madoff was Wall Street royalty and was able to build a company on his reputation and the returns he allegedly gave to investors. Richard A. Stanford’s Ponzi scheme was also discovered not long after Madoff’s and the victims in his case are also continuing their efforts to get their money back. The Wall Street Journal recently reported they are pursuing the banks involved with Mr. Stanford with claims. Every day there are news stories about Ponzi schemes being uncovered across the globe. Whenever money is involved there will be people who will look to defraud investors. The Buffalo News reported a Kuwati national’s Ponzi scheme regarding abandoned property in the Buffalo, NY area. The Mississippi Clarion Ledger published a story about an auction of the items of reportedly the largest Ponzi scheme operator in Mississippi history.
As important as it is to uncover the Ponzi scheme, the collection efforts are just as important. Authorities have to make efforts to hold the people accountable and try to recover what they can. The civil legal efforts by the investors also plays a role in the entire process because how the recovered assets and seized assets are split among the aggrieved is important. In a lot of cases, there isn’t enough to go around to make them whole. Ponzi scheme operators usually spend a majority of the money on lavish items.
RapidFunds provides post-settlement funding to plaintiffs’ attorneys with fees in the settled cases associated with ponzi schemes. The company also provides case cost funding to plaintiffs’ attorneys for their current and future case expenses in litigation against ponzi schemes. Interested plaintiffs’ attorneys can fill out the application below. For more information about post-settlement funding, case cost finance, and the funding process call 888-927-9500 or email firstname.lastname@example.org.