Ponzi scheme

One of the raging civil wars in the cryptocurrency world is Ethereum vs. Ethereum Classic. Similar to the in-fighting with Bitcoin and Bitcoin Cash, this civil war is causing a big divide among the cryptocurrency owners. So, what has caused the rift? Should you be moving away from the original and hedging your bets with Ethereum Classic? What Happened to Ethereum? The fallout began with a hack on the integral component that ran on the original Ethereum. There was a significant amount of money…

Akamai Technologies Incorporation, Polycom and People Support. His idea of doing business was just to receive the price information about a stock and then buy it right before it is up in the market for sale and then sell it to the price of his choice. This idea not only made him a wealthy rich person in the wall street but also a celebrity who featured in numerous business magazines and reality shows and once he was start being a role model in wall street to look up to since he rose the ranks…

Mega-star music producer Scott Storch filed for bankruptcy yesterday, officially claiming a meager $3,600 in assets and $100 in cash. In 2010 he was worth $70 million. Storch's fortune came from producing blockbuster hits for artists like Beyonce, Christina Aguilera and Justin Timberlake, but he has allegedly blown it all on cars and cocaine. In 2010, Storch counted a total of 13 cars in the garage of his Miami mansion, including a $600,000 Mercedes SLR and a $1.7 million Bugatti Veyron. He…

Payroll Scheme A. What measures could have been taken to prevent the fraud committed by Katie Jordan or detect it earlier? o Aramis Properties clearly fell victim to a ghost employee payroll scheme perpetrated by Katie Jordan. (Wells, 2014) The company could have prevented or detected the crime earlier if they added a few measures that strengthen their internal controls. Like most companies that fall victim to fraud, the mangers placed too much trust, in an employee, Jordan’s boss…

Bernard Madoff was blamed for extortion and formation of a Ponzi plan which prompt a $65 billion venture misfortune for several investors across the world. He understood that Wall Street was the best riches creation engine the people had ever known. Madoff was the first one to perceive that computer technology will give an intend to democratize Wall Street by securing a framework that made securities exchanging substantially more productive and much less expensive. Examining the instance of…

Case study Earlier come to cooking delightful five-star cuisine in hotels or restaurants, a celebrity chef Jeff Henderson was cooked something different fully dangerous is about cocaine’s. As a teenager life, he had man-made his own cocaine powder and sold the finished product in his native Los Angeles community. By the time he was aged 19, Henderson sold the finished product with earnings that would periodically total up to US $35,000 per week. He was running his own cocaine enterprise on that…

“Fake it ‘til you make it” sadly doesn’t always work, especially when what’s being faked is Jesus’s brother’s ossuary. “Unholy Business: A True Tale of Faith, Greed and Forgery in the Holy Land” by Nina Burleigh was published in 2008, describes the journey and struggle of validating this ossuary. James Ossuary is the main focus of this book, and all of the experts and millionaires that want to have it in their collection. The story of the discovery, travel, and testing of the ossuary is told…

Analyzing The Big Short The whole housing market is built like a giant Jenga tower. The AAA mortgages are at the top of the tower while the BBB’s are the lowest base of the tower. The AAA’s and AA mortgages were to make so much money that the extra money was to trickle down to the BBB’s at the base. This information is in the book The Big Short: Inside the Doomsday Machine written by Michael Lewis. He has written many best-selling non-fiction books like Moneyball and The Blind Side both were…

He was introduced to the carpet cleaning industry at the age of twelve by his mother, who worked as a telephone solicitor for a small carpet cleaning firm. Due to the lack of barriers to entry in this industry (no licensing requirements, no apprenticeships to be served and only minimal start-up capital needed), it is not hard for anyone to start a carpet cleaning company. But at the same time, no barriers to entry meant that there was a cutthroat competition within the industry and it was not…

After being charged with securities fraud, stock manipulation, money laundering, and other organized crime tactics (NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC), Belfort was sentenced to 4 years in prison and a $110.4 million dollar fine. However, after pleading guilty to fraud and money laundering along with testifying against his fellow associates, Belfort was given a reduced sentence of 22 months in Taft Correctional Center where he later wrote his biography. Daniel Porush was also…