At least three major Ponzi schemes are currently scamming American investors, according to Harry Markopolos, the man whose warnings about the Bernard Madoff Ponzi scheme were ignored by the Securities Exchange Commission.
"I'm working on three multi-billion dollar Ponzi schemes today, " Markopolos told ABC News, including one that he says will be bigger than Madoff's.
Markopolos, who declined to identify the names of the scams until he provides the information to government investigators, now runs his own private financial fraud detection business and continues to work as an adviser for federal law enforcement agencies.
Be very careful out there, do not put your money anywhere if you do not know the details of where your money is going. Listening to any kind of celebrities is not a guarantee that you are in a sound investment.
(via The News Daily)