Food for thought:
Hot on the heels of our last post on Bernard Madoff, we’ve decided to add a post from a law student who write this article a few months back.The general premise revolves around a new kind of ponzi scheme–one that involves not money as a currency of value, but information. Continue on for an interesting read:
A few nights ago, I stumbled across a website that urged me to create new account in its membership system. The site (which we shall call “INFOPONZI”, proposed a new universal investment currency, one unhindered by current fluctuations in market capital, recessions, or disaster. INFOPONZI proposed a free trade system without regulations so that users who signed up would be able to invest, trade or spend money freely. New INFOPONZI members would receive $500,000 dollars instantly in their account, without hidden fees or charges, credit checks, or taxes. They would achieve financial freedom, all for free.
Read more on LawRiot.