NYT: Ponzi Scheme Probes a Priority

Submitted by Melissa Hoffmann on Wed, 01/28/2009 - 12:12

The New York Times noted yesterday an uptick in the number of Ponzi scheme investigations by regulatory agencies. If you've been following this blog's coverage, you probably weren't surprised. 

The Securities and Exchange Commission, still reeling from its failures in the Madoff affair, definitely seems to have made this type of fraud its first priority, though no recent arrest comes close to rivaling Madoff's $50 billion scam.

The Times gives a name to these swindlers of millions, rather than billions: Mini-Madoffs. Conjures an interesting image, doesn't it?

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