How can I identify a Ponzi scheme?
An example of an AI chatbot conversation about identifying Ponzi schemes.
How can I identify a Ponzi scheme?
To identify a Ponzi scheme, look for promises of high returns with little risk, and check if the returns are paid from new investors' money.
What are some common signs of a Ponzi scheme?
Common signs include overly consistent returns, lack of transparency, and difficulty withdrawing funds.
Are there any legal ways to report a suspected Ponzi scheme?
Yes, you can report it to the Securities and Exchange Commission (SEC) or your local financial regulatory authority.
Can you give me an example of a famous Ponzi scheme?
One of the most famous Ponzi schemes was run by Bernie Madoff, who defrauded investors of billions over decades.
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