Skittish investors are creating 'Ponzi-palooza' - What other Ponzi schemes are out there

Skittish investors are creating 'Ponzi-palooza'

NEWS SERVICESFEBRUARY 28, 2009

Investors, skittish after the Bernard Madoff and R. Allen Stanford investigations, are sending daily tips on suspected Ponzi schemes to U.S. regulators, Commodity Futures Trading Commission member Bart Chilton said.

"There's a Ponzi-palooza out there," Chilton told reporters today in Arlington, VA. "As people are looking at these Ponzi schemes in the media, they start thinking, well, are my investments OK? So we get tips."

The commodities regulator announced complaints in two separate alleged Ponzi schemes, bringing the number of agency complaints this year to seven, valued at a total of $150 million.