Jonathan E. Turner,
CFE, CII
Managing Director
WILSON & TURNER, INC.
Memphis, Tennessee
Ponzi schemes are all the rage these days. In fact many new fraud
schemes have been dubbed Ponzi schemes, “mini Madoffs” and other
titles, no matter how much they resemble this particular scheme or not.
Nevertheless, there is something particularly instructive about Ponzi
schemes, their continued popularity with … victims. While there are
many classic fraud methodologies, the Ponzi scheme is particularly
unique for its ability to ensnare individuals and institutions, “mom
and pop” types, sophisticated investors, and leading multinationals.
Its very notoriety should make it the easiest fraud scheme to spot, and
yet it continues to be one of the most profitable models for the
fraudster to employ. According to the FBI they are now working more
active Ponzi scheme investigations, nearly 500, than any time in FBI
history. What was formerly perceived as a small scale scheme must now
be acknowledged as one of the prime money makers in the fraud world.
This session will use these schemes as a model to highlight the
features of successful fraud schemes, identify the keys to their
success and the techniques necessary to counter them.
