{"id":6854,"date":"2010-09-16T14:59:47","date_gmt":"2010-09-16T19:59:47","guid":{"rendered":"http:\/\/blogs-devl.bu.edu\/bunow\/?p=6854"},"modified":"2011-01-04T16:37:58","modified_gmt":"2011-01-04T21:37:58","slug":"ponzi-schemer-pleads-guilty","status":"publish","type":"post","link":"https:\/\/blogs-devl.bu.edu\/bunow\/2010\/09\/16\/ponzi-schemer-pleads-guilty\/","title":{"rendered":"Ponzi schemer pleads guilty"},"content":{"rendered":"<p>Nevin Shapiro <a title=\"pleaded guilty\" href=\"http:\/\/www.bloomberg.com\/news\/2010-09-15\/capitol-investments-ex-owner-pleads-guilty-to-880-million-ponzi-scheme.html\" target=\"_blank\">pleaded guilty <\/a>to running an $880 million multi-state Ponzi scheme.\u00a0 Law professor <a title=\"Tamar Frankel\" href=\"http:\/\/www.bu.edu\/law\/faculty\/profiles\/bios\/full-time\/frankel_t.html\" target=\"_blank\">Tamar Frankel<\/a>, an authority on securities law and author of <a title=\"&quot;Trust and Honesty: America's Business Culture at a Crossroad,&quot;\" href=\"http:\/\/www.oup.com\/us\/catalog\/general\/subject\/Finance\/Corporate\/?view=usa&amp;ci=019517173X\" target=\"_blank\">&#8220;Trust and Honesty: America&#8217;s Business Culture at a Crossroad,&#8221; <\/a>says to expect more and larger Ponzi schemes.<\/p>\n<blockquote><p><em>&#8220;It is no use telling investors that &#8216;if the offering is too good to be true, it is!&#8217; After all, the entire country is engaged not only in speculation but in betting &#8212; like the offerings of Ponzi schemers. Small Ponzi schemes will always remain, but large bubbles will spawn the Madoff&#8217;s and Shapiro&#8217;s Ponzi schemes.<\/em><\/p>\n<p><em>&#8220;So expect more to be uncovered. There is no way to contain enormous frauds when bubbles in the securities markets constitute a Ponzi scheme. These bubbles are too good to be true.&#8221;<\/em><\/p><\/blockquote>\n<p>Contact Tamar Frankel, 617-353-3773, <a href=\"mailto:tfrankel@bu.edu\">tfrankel@bu.edu<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nevin Shapiro pleaded guilty to running an $880 million multi-state Ponzi scheme.\u00a0 Law professor Tamar Frankel, an authority on securities law and author of &#8220;Trust and Honesty: America&#8217;s Business Culture at a Crossroad,&#8221; says to expect more and larger Ponzi schemes. &#8220;It is no use telling investors that &#8216;if the offering is too good to [&hellip;]<\/p>\n","protected":false},"author":66,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4491],"tags":[3774,1372,2308],"_links":{"self":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/6854"}],"collection":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/comments?post=6854"}],"version-history":[{"count":9,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/6854\/revisions"}],"predecessor-version":[{"id":7526,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/6854\/revisions\/7526"}],"wp:attachment":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/media?parent=6854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/categories?post=6854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/tags?post=6854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}