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Please expect nothing. Then, in the unlikely event that the guy is caught, kept records, didn't spend all the money and you have a lawyer who can spend years pursuing this, you may get back some pennies on the dollar. And as you expected nothing, that will be a treat.
In most all cases, it is better to learn from it and move on.
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∙ 14y ago
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What is a Ponzi scheme?
A 'Ponzi scheme' is a scheme in which investors are promised extraordinary returns, but meanwhile these returns are simply paid out from the inflow off new funds from new investors in the scheme. This is much like a pyramid scheme and results in an eventual collapse in which investors lose most -- or all -- of their money.
What did madoff do?
Bernie Madoffbegan his brokerage firm (Ponzi Scheme) in 1960 and grew it into one of the largest on Wall Street.While doing so, he began investing money as a favor to family and friends, thoughhe was not licensed to do so. Over a period of fi fty years, these side investments becamean investment fund that mushroomed into a $50 billion Ponzi scheme. Berniepled guilty without a trial on March 12, 2009, and was sentenced to 150 years in prison. Thousands of wealthy clients, philanthropic organizations, and middle-classpeople whose pension funds found their way into Bernie's investment fund lost theirlife savings.
Do ponzi scheme 'finders' have to pay restitution?
Usually the guilty party is given a criminal penalty which may involve restitution. However, as the funds that are gone are usually so much greater than what he could legitimately earn, the people who lost usually never recover their investment.
Can you get money at ATM if you lost pin?
i lost my atm pin
How can i find a lost money gram?
lost my moneygram and wanted to know how i can cancel and get a replacement
Which investors lost money in Madoff ponzi scheme?
If you were an investor in Madoff's ponzi scheme, you lost money.
What is a Ponzi scheme?
A 'Ponzi scheme' is a scheme in which investors are promised extraordinary returns, but meanwhile these returns are simply paid out from the inflow off new funds from new investors in the scheme. This is much like a pyramid scheme and results in an eventual collapse in which investors lose most -- or all -- of their money.
In a Ponzi scheme money is redistributed from old investors to new ones So is the only money that is really lost is the amount that the promotors rake off?
The older investors get "interest" or "returns" from the newer investors. However, they do not, nor does anyone, get their "principle" back. The "rake off" then is for all intents and purposes, total.
What did madoff do?
Bernie Madoffbegan his brokerage firm (Ponzi Scheme) in 1960 and grew it into one of the largest on Wall Street.While doing so, he began investing money as a favor to family and friends, thoughhe was not licensed to do so. Over a period of fi fty years, these side investments becamean investment fund that mushroomed into a $50 billion Ponzi scheme. Berniepled guilty without a trial on March 12, 2009, and was sentenced to 150 years in prison. Thousands of wealthy clients, philanthropic organizations, and middle-classpeople whose pension funds found their way into Bernie's investment fund lost theirlife savings.
Do ponzi scheme 'finders' have to pay restitution?
Usually the guilty party is given a criminal penalty which may involve restitution. However, as the funds that are gone are usually so much greater than what he could legitimately earn, the people who lost usually never recover their investment.
Do the tax payers owe the people who lost money from bernie madoff scheme?
Not yet. But Obama the socialist might find a way to make it happen.
When did Quickstar go out of business?
Quickstar went out of business in 2011. It was a pyramid scheme where only a few made money and many lost their money. They sold computer based software, there is not much detail about them on the net anymore besides forum sites.
Why can't I enroll in Lost University?
Because its not a real university but a marketing scheme :)
Is there a good lost money locator to help me?
No, there is not a lost money locator. If you have lost a lot of money, you need to report that to the police and file a police report to try to retrieve your lost money.
Why were the Chinese upset with the Treaty of Versailles?
They lost money
How does government controls public money?
because of there is no controlling money the people will lost the money and the government will distroy and the nation will lost
When money is lost nothing is lost when health is lost something is lost but when honour is lost all is lost?
i thought it was character lost everything lost
