The Ponzi scheme leader worked with at least two other people whom he paid a commission for every investor they attracted as well as dinners and hotel stays, according to court filings.

Kevin Bacon is opening up about the impact the Bernie Madoff Ponzi scheme had on him and wife Kyra Sedgwick. The longtime couple was reported to have lost 'millions' when they were among the ...

A former NFL linebacker was sentenced to two and a half years in federal prison this week after he admitted to running a Ponzi scheme involving West African gold mines, properties in Central ...

The “Footloose” star said in a new interview that despite losing a fortune in Bernie Madoff’s infamous Ponzi scheme more than a decade ago, he now focuses on the blessings he still has in ...

Elon Musk has suggested making changes to Social Security, including implying it is a Ponzi scheme, which has sparked debate. Social Security is funded by payroll taxes and is designed as a "pay ...

Statement: “Social Security is the biggest Ponzi scheme of all time.” In an interview with podcaster Joe Rogan, billionaire and White House adviser Elon Musk resurrected a term that Social ...

Vivian Wilson, estranged daughter of Elon Musk, criticized Musk's Mars colonization plans and labeled them a marketing scheme. She claimed Tesla operates like a Ponzi scheme and disparaged Musk as ...

The phrase Ponzi scheme dates back well before Bernie Madoff defrauded investors out of $65 billion. Between 1882 and 1949, Charles Ponzi, an Italian immigrant, found a loophole in currency exchanges.

The Securities and Exchange Commission, SEC, has warned that promoters and operators of any Ponzi Scheme in the country risk a penalty of not less than N20 million or imprisonment to a term of 10 ...