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:
Where we are:
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- Johnny FD – Phuket, Thailand / IG @johnnyfdjj
- Sam Marks – Phuket, Thailand / IG @imsammarks
- Derek – Los Angeles / IG @DerekRadio
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Sponsor:
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- Invest Like a Boss Patreon
Help support the continuation of Invest Like a Boss by becoming a Patreon! Plans start as low as $5/month and give you instant access to years of exclusive content, including portfolio access, trade alerts, bonus episodes & more. Join now at Patreon.com/InvestLikeaBoss.
- Invest Like a Boss Patreon
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Like these investments? Try them with these special ILAB links:
- Wealthfront Robo-Advisory – Get your first $5,000 managed free
- Wealthfront Cash Savings - Get .50% APY Boost on your savings!
- Cult Wines - get 1 month fee-waiver free each year (8% reduction)
- Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK) *Johnny, Derek, and/or Sam use personally invest through the above services.
Time Stamp:
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- 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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