Monday, March 9, 2009

How To Spot A Ponzi Con Artist - Follow The Yachts

Time Magazine published an article yesterday on "How To Spot A Ponzi Con Artist - Follow The Yachts" which suggests that "if your investment advisor is dabling in yachts, mansions, jets and women" then there is a good chance they are involved in a Ponzi-scheme. The article provides several examples of such excess, including, of course, Bernie Madoff and R. Allen Stanford, as well as Stephen Walsh & Paul Greenwood/Westridge Capital Management; Mark Evan Bloom/North Hill Management; and Chuck Hays/Crossfire Management. All of these folks spent their clients' money on an extremely lavish lifestyle.

Read the story here.

No comments: