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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%.
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.
The May 2022 collapse of TerraUSD, a stablecoin propped up by a complex algorithmic mechanism offering 20% yields, was described as "Ponzinomics" by Wired. [32] 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".
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.
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-dollar Ponzi scheme.
The United States House Oversight Committee investigation into the Biden family is an ongoing investigation since January 2023 by the United States House of Representatives into US President Joe Biden and his family. [1][2] The investigation was initiated on January 11, [3] and includes examination of the foreign business activities of Biden's ...
On July 15, 2020, between 20:00 and 22:00 UTC, 130 high-profile Twitter accounts were reportedly compromised by outside parties to promote a bitcoin scam. [1][2] Twitter and other media sources confirmed that the perpetrators had gained access to Twitter's administrative tools so that they could alter the accounts themselves and post the tweets ...
If a strike were deemed a danger to U.S. economic health, President Joe Biden could, under the 1947 Taft-Hartley Act, seek a court order for an 80-day cooling-off period. This would suspend the ...