In 2023, the bank had to pay $1.2 billion in a settlement that claimed the bank was involved in a Ponzi scheme started by Robert Allen Stanford, the former chairman of Stanford International Bank.

The fund relied on multiple sources to collect the billions necessary to repay victims. Thousands of people defrauded by Bernard Madoff's infamous Ponzi scheme will soon receive the final ...

The DOJ announced Monday that it began distributing its tenth and final payments of forfeited funds to 40,930 victims of Madoff’s scheme, the largest known Ponzi scheme to date. The final ...

It’s been more than 15 years since federal authorities put an end to Bernie Madoff’s massive and destructive Ponzi scheme but the Justice Department is only now distributing final compensation ...

The investigators are also reportedly probing the 14 luxury cars given out as lucky draw prizes to investors. Sources told NDTV these cars aimed at drawing more customers to the Ponzi scheme.

Mumbai's Economic Offences Wing has arrested two partners of a firm, including a mechanical engineer, for allegedly duping 100 investors of Rs 28 crore through a ponzi scheme promising 24% yearly ...

WASHINGTON -- The fund disbursing money to the victims of Bernie Madoff's legendary Ponzi scheme began its 10th and final distribution on Monday, putting another $131 million in the pockets of ...

St. LOUIS – U.S. District Judge Audrey G. Fleissig sentenced a man who ran a refrigerant-based Ponzi scheme for almost a decade to 14 months in prison and ordered him to repay $287,000 to victims.

CID has so far confiscated about 18 properties linked to Zala worth around ₹100 crore. A Ponzi scheme is a type of investment fraud where operators pay early investors using money collected from ...