After both watching the new Netflix docuseries on Bernie Madoff, Sam and Derek decide to dive deeper into the art of the Ponzi Scheme. They discuss how they came about and go over some of the biggest financial fraud cases in history. This is part one of a two episode run on financial fraud and ponzi schemes. ILAB 274 will feature an expert with tips on how to spot fraud in your investments.

Discussed:

Watch Madoff: Monster of Wall Street on Netflix

Where we are:

Johnny FD – Phuket, Thailand / IG @johnnyfdj
Sam Marks – Bangkok, Thailand / IG @imsammarks
Derek – Los Angeles / IG @DerekRadio

Sponsor:

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Like these investments? Try them with these special ILAB links:

Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK)
*Johnny and Sam use all of the above services personally.

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Time Stamp:

06:49 - What's Considered a Ponzi Scheme?
08:11 - Charles Ponzi
12:11 - Enron
20:15 - Tom Petters
27:54 - Allen Stanford
31:25 - Bernie Madoff

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273: The Biggest Ponzi Schemes of All-Time 49:31 Share

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Shownotes Transcript

273: The Biggest Ponzi Schemes of All-Time