The (In)famous Charles PonziJan 26th, 2009 | By critellilaw | Category: Practice Notes
When was the last time you heard of a Ponzi scheme? Here are the telltale earmarks of a Ponzi scheme:
- A return on investment that is higher than the general market;
- A form and structure that is outside of the normal form of investment;
- Individuals or companies that are outside the mainstream of investment;
- Individuals or companies that are not directly regulated by a government entity.
You should know that if you are the victim of a Ponzi scheme your chance of recovery is low. Often an effective remedy is afforded by the law of equity such as the equitable tracing, constructive trusts etc. But the longer you wait to act the worse your chance of recovery.
Ponzi schemes are criminal. If you Mr. Ponzi’s victim you should report it to your lawyer who will assist you in making a criminal report.
Always remember what another old Italian immigrant who also came to this country in 1903 once said … “if it’s a too gooda to be true it’s a not.” (sorry Grandma)