Over the last few years, the name “Bernie Madoff” and the term “Ponzi Scheme” have been used almost interchangeably. Obviously we all know that this man was a crook and that he committed a very serious act of fraud by stealing millions of dollars from trusted investors. But have you ever stopped to ask yourself just what one is or what a Ponzi Scheme example would even look like? Don’t be embarrassed if you don’t know exactly what one is. When Madoff was arrested and his wife was told about his crime, she replied “What’s a Ponzi Scheme”? As students of investing and diligent savers for retirement, it is very important that we protect our financial well-being by staying away from scrupulous investment opportunities After all, … [Read more...] about A Ponzi Scheme Example – An Illustrated Demonstration of How One Works
fraud
Props to Chase Freedom’s Fraud Protection Service
I was almost the victim of identify theft. On the evening of Dec 23, I received a call from the Chase Freedom Visa Card Fraud Protection alerting me that someone had tried to buy almost $500 worth of goods from a Macy’s in California. Because I live in Michigan, the purchase was quickly red-flagged and denied. Fortunately, I was spared. The phone call with Chase was quick and painless. They asked me which transactions I’d like to dispute, closed my old account, and told me I’d have a new card with a new number within a matter of days. … [Read more...] about Props to Chase Freedom’s Fraud Protection Service
