Browsing: Ponzi scheme

HSBC faces a $1.1 billion provision after a Luxembourg court ruling linked to Bernie Madoff’s Ponzi scheme, underscoring the enduring fallout of the massive financial fraud.

Former transportation engineer faces 20 years in prison for wire fraud and money laundering

Ohio man falsely promised to generate lucrative returns but instead used new investors’ money to repay old investors

He also forged documents to show the investors that the funds were performing well