Ponzi upsurge prompts demand for tighter regulation
LONDON & WASHINGTON, DC - News that US authorities have charged a UK man with investment fraud is just the latest in an almost unbroken run of outed Ponzi schemes in the wake of the Madoff fraud revelations at the end of last year. Robert Tringham is accused of scamming investors out of $7 million and allegedly promised investor returns of 2.5% per month or 30% per year. Six months on from Madoff's swindle, a number of wider observations can be made about the prevalence of Ponzi schemes.
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