Old habits die hard
Bernie Madoff, is often the first person that comes to mind when you mention the words Ponzi scheme these days, in the midst of the ongoing financial crisis. The Madoff Ponzi scheme fabricated almost $65 billion of money that didn’t exist. The exponential relationship between finding new investors money to funding the old investors overzealous and unsustainable gains were bound to come crashing down as new investors were nowhere to be seen,having lost confidence in the markets in the aftermath of the 2008 crash. One would think that investors would have learnt their lesson on when returns are too high and can not be justified by any legitimate marketplace, but old habits die hard in the current financial crisis!
ZeekRewards.com, has an Alexa Traffic Rank of 128, attracting a huge online customer following through offering investors excessive Ponzi like returns. These returns proved too good to be true when company was shut down by the SEC on Friday 17 August 2012 suggested as a Ponzi scheme on the verge of collapse. Forbes.com reported:
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