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On May 20, 2010, the SEC filed a federal case against Edward A. Allen and David L. Olson, two former brokers of World Financial Group / World Group Securities, accusing them of having raised approximately $14.8 million through the offer and sale of promissory notes as part of an illegal Ponzi scheme in the States of Ohio and Florida between ...
The site initially described that any single holder who owned over 0.5% of all tokens would be designated as a "whale", who could only sell 20% of their total supply every 24 hours in 0.1% transaction limits until they no longer held 0.5% of all supply.
For instance, the source said the team was never told whether the promise meant "20% each year for four years" or "5% a year for four years" or some variable amount that could wind up being "1% or ...
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The Enron scandal was an accounting scandal involving Enron Corporation, an American energy company based in Houston, Texas. When news of widespread fraud within the company became public in October 2001, the company declared bankruptcy and its accounting firm, Arthur Andersen – then one of the five largest audit and accountancy partnerships ...
The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. [1] In December of that year, Bernie Madoff, the former Nasdaq chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate multi-billion ...
Original article source: Inflation is up 20% since Biden took office. Show comments. Advertisement. Advertisement. In Other News. Entertainment. Entertainment. USA TODAY.
The unsustainable exponential progression of a classic pyramid scheme in which every member is required to recruit six new people. To sustain the scheme, the 2.2 billion people in the 12th layer would be required to recruit 13.1 billion more people for the 13th layer, even though there are not nearly enough people in the world to achieve that.
Recycling codes are used to identify the materials out of which the item is made, to facilitate easier recycling process. The presence on an item of a recycling code, a chasing arrows logo, or a resin code , is not an automatic indicator that a material is recyclable; it is an explanation of what the item is made of.
The May 2022 collapse of TerraUSD, a stablecoin propped up by a complex algorithmic mechanism offering 20% yields, was described as "Ponzinomics" by Wired. Another example of a well known ponzi scheme involving cryptoassets was the ICO of AriseBank or AriseCoin, involving claims about founding the world's first "decentralized bank".