FTC settles with alleged operators of Kentucky-based pyramid scheme

The pyramids in Egypt might be solid structures, but the other kind of pyramid–the pyramid scheme–has a lot more in common with a house of cards. The Federal Trade Commission (FTC) just announced a settlement with┬áthe alleged operators of a Kentucky-based pyramid scheme that drew in 350,000 consumers over four years. The operators of Fortune…

Texas State Securities Board announces indictment of alleged Ponzi-schemer

A pyramid scheme can be tempting for some investors. Usually there’s a charismatic person who makes the investor think he or she can’t lose, who doesn’t let on that the operation is making money by signing up new people–the kind of investment that always crashes in the end. The Texas State Securities Board just announced…

BBB and FINRA Foundation launch new website to stop investment scams

Consumers lose millions to scammers and Ponzi schemes; new effort combines education, local outreach Better Business Bureau and the FINRA Investor Education Foundation launched a new consumer website, BBB Smart Investing, which is designed to help consumers make smarter investing decisions. The campaign combines the research and expansive knowledge base of the FINRA Foundation with…