Ponzi Fonzis 0
Last week, I read an article which quoted a financial type as saying that Ponzi schemes make up a much higher percentage of private investment plans than anyone would likely suspect. Indeed, the persons quoted pretty much said that, if it’s a private scheme, it’s more likely to be a Ponzi scheme than not.
I didn’t write about it and now I can’t find it. I did find a similar story from USA Today.
A story in this morning’s Philadelphia Inquirer brought it to mind: A well-respected local investment counselor with a large clientele amongst friends and family passed away. Nobody can find any of the investments he counseled:
