Introducing Ponzi News (Beta)

featuredponziOver the next few days we’ll be rolling out a beta version of a new web publication known as Ponzi News.

It’s at PonziNews.com.

The content will be targeted at consumers, many of whom were only vaguely familiar with the term “Ponzi scheme” prior to the Bernard Madoff affair.

We chose “Ponzi News” as the title and created the PonziNews.com domain because those two simple words capture the essence of the editorial product. Ponzi News will publish news about Ponzi schemes and Ponzi allegations.

Ponzi schemes exist from Wall Street to Main Street. People who wear $1,000 suits run Ponzi schemes, as do people who sit in their underwear all day long at their computer.

Many people outside the Internet Marketing universe have never heard phrases such as “autosurf” and “HYIP.” But as the economy shrinks and unemployment increases, the autosurf and HYIP operators will be only too happy to give them an education.

So, Ponzi News also will cover news from the polluted worlds of autosurfs and HYIPs.

Regulators said recently that investment schemes using the Ponzi model have been on the uptick. If you’ve been paying attention to developments in the autosurf world, for instance, you’ve noticed that several new surfs have popped up in recent days.

And you’ve noticed that several surfs also have failed.

Our aim with Ponzi News is to keep consumers informed about Ponzi schemes and become an outlet for news that enlightens, educates and informs them on this very important topic.

Visit Ponzi News Beta.

We’ll be adding some content during the day today.

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8 Responses to “Introducing Ponzi News (Beta)”

  1. Another great idea Patrick and much needed in these troubled economic times, when we need to be on our toes more than ever

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  2. Thanks, alasycia. It will take awhile to build readership, but Ponzis very much are in the news these days — and regulators say it might get worse.

    Arthur Nadel is now missing, as is more than $300 million in client funds.

    And, of course, the surf sites are proliferating, despite what happened to ASD, LaFuenteDinero and GoldenPanda.

    Take care,

    Patrick

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  3. Patrick,

    Patrick,

    Before I forget, how is Maddie? Did Santa bring her any presents?

    I think this is a wonderful idea, because the scammers have so much resource material to work with, since there’ve been so many Ponzi’s and for every Ponzi that opens and closes, the scammers have a map of the pitfalls to avoid the next time. Not that it works; I chuckle at the attention ASD paid to the SEC “angle” only to find that the DOJ used another of the many weapons in their arsenal. ASD thought they shot the moon* with the creation of a new scam, the pyra-ponzi — a ponzi with a pyramid twist. From now on, when a scammer declares “we’re not a ponzi because we have a legitimate product” you can point them to ASD.

    * For non-Hearts or Spades players: To take a risk which may result in great rewards; to succeed after taking such a risk.

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  4. Hi Marci,

    Before I forget, how is Maddie? Did Santa bring her any presents?

    Maddy is fine, and she thanks you for asking. At the moment, she’s in the process of dragging all her blankets upstairs and into my office. This is the third time today. :-)

    I call it her “mining project.” She constantly mines her blankets; I take them back downstairs, and she mines them again.

    For Christmas she got a BIG package of rawhides and some fun beef. I mentioned previously that she also got a dress from my sister. Maddy ripped it to shreds. She’s no dress girl.

    ASD thought they shot the moon* with the creation of a new scam, the pyra-ponzi — a ponzi with a pyramid twist.

    Hmmm. Pyra-Ponzi. Maybe you’re on to something there. Florida did the “Pyra” part, and the Feds did the “Ponzi” part. Not much room to escape there.

    Have a good evening, Marci.

    Regards,

    Patrick

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  5. And here is the latest Ponzi that was in the news today.

    Neb. Insurance Company under investigation: Omaha.Neb.

    Nebraska officials are investigating an alleged Ponzi scheme by a Grand Island company that recently filed bankruptcy.

    First American Insurance Service

    The State Patrol is working with the departments of insurance and banking to piece together how more than 100 million disappeared.

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  6. Thanks, Jack. I started gathering info on the Nebraska case last night.

    It seems like a complicated set of facts.

    Patrick

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  7. Patrick: Great Stuff! I’ll announce Ponzi News to our membership. Thanks for all your great work, reporting and insight. Clint

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  8. Thanks for the note, Clint.

    In three days, Ponzi News has 11 stories about Ponzis.

    Early observations:

    * Florida seems to have more than its share of Ponzi schemes.
    * Ponzi schemes know no age limits. Madoff is 70; Bowdoin is
    74; the operator of the alleged Gen-See Ponzi in Buffalo is 82.
    * Affinity fraud often is part of the Ponzi plan.
    * Christians are frequent targets of Ponzi schemes.
    * An “offshore” element often is involved.

    Thanks for the note, Clint.

    Patrick

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