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МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time. By different estimates from 5 to 40 million people lost up to $10 billion. The company started attracting money from private investors, promising annual returns of up to 1,000%.
A Ponzi scheme ( / ˈpɒnzi /, Italian: [ˈpontsi]) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. [ 1] Named after Italian businessman Charles Ponzi, this type of scheme misleads investors by either falsely suggesting that profits are derived from legitimate business ...
The man behind one of America's biggest 'fake news' websites is a former BBC worker from London whose mother writes many of his stories. Sean Adl-Tabatabai, 35, runs YourNewsWire.com, the source of scores of dubious news stories, including claims that the Queen had threatened to abdicate if the UK voted against Brexit.
4. Unsolicited loan offers. Another good way to spot a scam is if it comes as an unsolicited offer, usually over email, text message or social media. A telephone offer is an immediate red flag. It ...
“Fake reviews not only waste people’s time and money, but also pollute the marketplace and divert business away from honest competitors,” FTC Chair Lina Khan said in a statement.
The U.S. Attorney’s Office for the Middle District of Pennsylvania is warning the public about a scam involving cryptocurrency and Payroll Protection Program (PPP) fraud.
Get-rich-quick schemes are extremely varied; these include fake franchises, real estate "sure things", get-rich-quick books, wealth-building seminars, self-help gurus, sure-fire inventions, useless products, chain letters, fortune tellers, quack doctors, miracle pharmaceuticals, foreign exchange fraud, Nigerian money scams, fraudulent treasure ...
The FBI Internet Crime Complaint Center (IC3) received more than 101,000 reports of scams and fraud against people ages 60 and older in 2023, causing seniors to lose over $3.4 billion. And those ...