Posts Tagged ‘Ponzi schemes’

Another Ponzi Scheme Uncovered

Another Madoff-mini me has surfaced. The SEC has charged Weizhen Tang and his Toronto based hedge fund with operating a Ponzi scheme. Tang liked to bill himself as the “Chinese Warren Buffett.” Tang, however, wants everyone of his investors to know that he feels just awful about all of this. From Reuters: Attempts to reach […]

Ponzi Schemes: They Just Keep Coming

Another day another Ponzi scheme. Now it involves a nursing home operator. Sunwest Management has been charged by the SEC with operating a Ponzi scheme that potentially defrauded investors out of $300 million. The company was involved in the acquisition and operation of over 200 retirement homes. It told investors that they were investing in […]