Get The Ponzi Scheme Puzzle: A History and Analysis of Con PDF

By Tamar Frankel

ISBN-10: 0199926611

ISBN-13: 9780199926619

Charles Ponzi perpetrated his notorious scheme virtually 100 years in the past. yet his approach to utilizing new investments to pay current traders and finance a highflying way of life is alive and good: simply as a lot cash is misplaced within the usa at the present time from Ponzi schemes as from shoplifting. in some way, con artists may be able to dazzle prosperous, trained members and complicated associations and persuade them handy over large sums of cash. How?

In The Ponzi Scheme Puzzle, popular felony pupil Tamar Frankel explores those con artists' interesting energy of persuasion and deception, uncovering the sophisticated indications that mimic fact and honesty. After years of shut examine of hundreds and hundreds of circumstances, Frankel explains the outstanding styles that emerge and the typical features of the con artists and their sufferers. She bargains transparent but finished descriptions of a number of the designs of Ponzi schemers' appealing bargains and flags the ways that they masks their deception via really expert equipment of advertisements and promoting. She then constructs lucid profiles of the con artists and their sufferers, exposing the center nature of the folks on the middle of the schemes and exhibiting how over the years the traces among predator and prey are blurred. There are certainly many classes to benefit from those tales, and Frankel brings them to mild in the course of the insightful result of her study. She indicates how peoples' attitudes are ambivalent and unsure towards con artists, possibly simply because their habit is so probably sincere, simply because they act just like the social leaders with whom they're prone to mingle, or maybe simply because their activities are idea to shake up a complacent society. Frankel concludes by way of providing a shocking resolution on how you can hinder fascinating, harmful con artists from perpetuating the long-lasting, disastrous legacy of Charles Ponzi.

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Extra resources for The Ponzi Scheme Puzzle: A History and Analysis of Con Artists and Victims

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STORIES TO SATISFY INVESTORS’ CURIOSITY An important element of the Ponzi design is the need to satisfy the investors’ curiosity. A promise of unbelievably high profits does not necessarily induce all investors to hand over their money, but it makes them stop and listen attentively. Potential investors may be skeptical; they may ask questions. They may want to know, Where does all this money come from? Con artists’ stories explain the sources of the high returns that they promise. Although the schemes share the same basic structure, 25 THE PONZI SCHEME PUZZLE they come wrapped in a rich variety of investment stories.

40 B. STORIES TO SATISFY INVESTORS’ CURIOSITY An important element of the Ponzi design is the need to satisfy the investors’ curiosity. A promise of unbelievably high profits does not necessarily induce all investors to hand over their money, but it makes them stop and listen attentively. Potential investors may be skeptical; they may ask questions. They may want to know, Where does all this money come from? Con artists’ stories explain the sources of the high returns that they promise. Although the schemes share the same basic structure, 25 THE PONZI SCHEME PUZZLE they come wrapped in a rich variety of investment stories.

One con artist can create more than one story. Thus a con artist told various stories to suit his potential clients’ interests.  . ’”77 Con artists’ stories can be designed to match the experiences of the environment and understanding of potential victims. For example, representatives of charitable institutions are more likely to believe a story about a secret donor who would match their 27 THE PONZI SCHEME PUZZLE investments. Charitable institutions frequently receive donations from benefactors who wish to remain anonymous, perhaps to avoid the pressure of requests for donations from others.

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The Ponzi Scheme Puzzle: A History and Analysis of Con Artists and Victims by Tamar Frankel


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