Bernie’s Shadow

April 12th, 2009
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In yesterday’s New York Times, John Schwartz reported on the many fraudsters that have flown under the radar due to the media attention that Bernie Madoff’s massive ponzi scheme has received. The article goes on to highlight a few of the ponzi schemes that have been included in HedgeTracker’s “Hall of Fraud.”

In the article, “Lost in Bernie Madoff’s Shadow,” Mr. Schwartz writes “What troubles me is the lack of attention for the kind of fraudsters who once ruled the front pages. The new guys’ exploits are found, instead, on the vitamin pages — you know, B12, D3 — deep in the newspaper.”

The article also goes on to report that people in the legal community believe that fraud schemes may even increase over the next few years. “No, a Ponzi moratorium isn’t likely, said Jack King, an official of the National Association of Criminal Defense Lawyers. Because, as he explained, economic crises create desperate people — and desperate people are an easy mark.”
See Source
For Detailed Investor Profiles on these Investors, click below:
Bottom Line of South Florida
Joshua Tree Group
Madoff Investments LLC
Stanford Financial Group
Related People: Andres Leonel Pimstein; Bernard Madoff; Neulan Midkiff; R. Allen Stanford
Related Article Tags: Hedge Fund Fraud and Ponzi Scheme News

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