Most Notorious Ponzi Schemes of All Time

Investors often fall under the spell of charismatic, trusted individuals selling "guaranteed" high returns with "little or no risk." This laundry list of the most notorious Ponzi con artists who successfully perpetrated this form of securities fraud on unwitting investors is a testament to the allure of the Ponzi scheme.

Charles Ponzi
The original bad boy of finance, Charles Ponzi went from rags to riches in six months by promising investors a 50% return in 45 days in an international postal coupon arbitrage setup. He reportedly stole $15 million, a considerable sum for today's standards but even more so in the 1920s. His fraud is memorialized every time a new scheme is labeled by the phrase he was responsible for coining.

Enrique, Osvaldo. and Freddy Villalobos
Based on a loan scheme that started in the late 1980s, this was a much less volatile version of the original plan. The three brothers from Costa Rica were disciplined and had real assets to back their staying power. The Villalobos men supposedly bilked mainly American and Canadian retirees out of $400 million over their staggeringly long run of 20 years.

Gerald Payne
With phrases straight out of the Bible, this charlatan convinced members to invest in a scheme involving gold coins in the early 1990s. Utilizing his position as trusted spiritual leader, the Florida pastor allegedly cheated devoted followers out of $500 million.

Lou Pearlman
In the late 1990s, Lou Pearlman was the manager of boy bands such as ‘N Sync and the Backstreet Boys. Already known in the community, he decided to offer high-return investments through his FDIC-insured Trans Continental Savings Program. The scheme was not FDIC-approved or insured at all, but Pearlman reportedly raised nearly $500 million for his fraudulent scheme.

Bernard Madoff
New information is still being uncovered regarding this most notorious scam artist's methods, which were shrouded in secrecy even to those working closely with him. Madoff spent years building what is now regarded as the largest Ponzi scheme in history to date. His incredibly long list of victims included nonprofit organizations, celebrities, other funds, financial institutions, and countless others. He allegedly swindled them out of more than $50 billion.

The Law Firm of Meyer Wilson

If any of the Ponzi investment frauds listed above sound similar to something you have experienced, then you may have fallen victim to securities fraud or broker misconduct. The first thing you need to do is contact an experienced investment fraud attorney. A dedicated attorney will take the time to go through your options and determine the best course of action to protect your rights.



For more information, contact the law firm of Meyer Wilson by calling toll free 866-827-6537 or filling out our online form.