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You Can't Cheat an Honest Man: How Ponzi Schemes and Pyramid Frauds Work... and Why They're More Common Than Ever

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A keen insider's guide to investment rip-offs, scams and conartists. This book takes an investigative look at the reasons why Ponzi schemes and pyramid frauds are thriving everywhere. It closely examines why over 100,000 Americans are suckered into the schemes every year. Tips are offered to detect schemes and respond when they occur. The purpose of the book is to educate A keen insider's guide to investment rip-offs, scams and conartists. This book takes an investigative look at the reasons why Ponzi schemes and pyramid frauds are thriving everywhere. It closely examines why over 100,000 Americans are suckered into the schemes every year. Tips are offered to detect schemes and respond when they occur. The purpose of the book is to educate consumers and make them aware of how scams work.


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A keen insider's guide to investment rip-offs, scams and conartists. This book takes an investigative look at the reasons why Ponzi schemes and pyramid frauds are thriving everywhere. It closely examines why over 100,000 Americans are suckered into the schemes every year. Tips are offered to detect schemes and respond when they occur. The purpose of the book is to educate A keen insider's guide to investment rip-offs, scams and conartists. This book takes an investigative look at the reasons why Ponzi schemes and pyramid frauds are thriving everywhere. It closely examines why over 100,000 Americans are suckered into the schemes every year. Tips are offered to detect schemes and respond when they occur. The purpose of the book is to educate consumers and make them aware of how scams work.

30 review for You Can't Cheat an Honest Man: How Ponzi Schemes and Pyramid Frauds Work... and Why They're More Common Than Ever

  1. 4 out of 5

    Paul

    You Can’t Cheat an Honest Man, James Walsh, Silver Lake Publishing, 1998 This book looks at pyramid scams, Ponzi schemes, multi-level marketing, and other such "surefire" money makers, which actually are surefire money losers. Keep it simple; if an operation is too complicated, no one will invest in it. Practically any industry is ripe for scam artists, from real estate to travel to technology. Tax havens and tax dodges are a very popular field for thieves. Schemes run by so-called "investment adv You Can’t Cheat an Honest Man, James Walsh, Silver Lake Publishing, 1998 This book looks at pyramid scams, Ponzi schemes, multi-level marketing, and other such "surefire" money makers, which actually are surefire money losers. Keep it simple; if an operation is too complicated, no one will invest in it. Practically any industry is ripe for scam artists, from real estate to travel to technology. Tax havens and tax dodges are a very popular field for thieves. Schemes run by so-called "investment advisors" or "financial planners" are the most favored area for scammers, but commodities and precious metals are a close second. Scams can come in a seemingly infinite array of shapes and sizes. Their continued success is based on several human emotions. Family ties are very strong; people are reluctant to attack, or sue, the uncle or cousin who got them into this scheme. People are also reluctant to let others know that they have been scammed; it’s easier to keep quiet. The most important emotions are pure greed and gullibility. Who can resist a "no-risk" investment with a double digit return? What can a victim do? Some agency like the state Attorney General’s office or Federal Trade Commission will have jurisdiction over your case; make friends with them. Go after the people who got money out of the scheme before it collapsed. While the scammer was in business, they were advised by banks, lawyers and/or accountants; don’t be afraid to go after them. Last but not least, when the scheme reaches bankruptcy court, as it will (Ponzi schemes have a 100% failure rate), don’t be afraid to fight like a caged animal for your money. No one else will do it for you. This book is excellent and very easy to read. Anyone can say that they would never be caught anywhere near such a scheme. Remember that the next time a friend of a friend goes on about this incredible, "no-risk" money making plan, and read this book first.

  2. 5 out of 5

    Ian

    The author gives a brief history of Ponzi schemes and their original creator Charles Ponzi. Thereafter follows an individual examination of a long list of scams, pyramid schemes, multi-level marketing (MLM) and general rip-offs. Each scam is used to highlight some interesting technical, financial or legal point. The sheer number of Ponzi schemes and subtle ways in which one can get scammed is staggering. Quite detailed and a little hard to read - best digested in small bites. Also a little dated c The author gives a brief history of Ponzi schemes and their original creator Charles Ponzi. Thereafter follows an individual examination of a long list of scams, pyramid schemes, multi-level marketing (MLM) and general rip-offs. Each scam is used to highlight some interesting technical, financial or legal point. The sheer number of Ponzi schemes and subtle ways in which one can get scammed is staggering. Quite detailed and a little hard to read - best digested in small bites. Also a little dated considering the surge in Internet usage in the last 20 years. Only covers cases in the United States so might not be that interesting for an international reader.

  3. 4 out of 5

    Mia

    Really makes you understand how Ponzi schemes work, but it gets awfully repetitive after a while, suffering from an overabundance of case studies and examples. Could've been much better if trimmed down a little. Really makes you understand how Ponzi schemes work, but it gets awfully repetitive after a while, suffering from an overabundance of case studies and examples. Could've been much better if trimmed down a little.

  4. 4 out of 5

    Cynic

    If you want to understand ponzi schemes, this is the book you should read. Not for the financial part of it, but for the understanding the characters. The people who do these things aren't smarter than the rest of us, but they have one thing we don't: balls. If you want to understand ponzi schemes, this is the book you should read. Not for the financial part of it, but for the understanding the characters. The people who do these things aren't smarter than the rest of us, but they have one thing we don't: balls.

  5. 4 out of 5

    Russell Allison

    3 stars is generous for the writing. Its relentlessly repetitive. Having said that, you certainly get a clean, straightforward understanding of how ponzi schemes work. One of those books you can get the gist of in 2-4 chapters, and never have to look at again.

  6. 4 out of 5

    José María

    Soberano coñazo. Es una recopilación sobre los esquemas Ponzi más notorios ocurridos en Estados Unidos.

  7. 4 out of 5

    Michael Pio

  8. 5 out of 5

    Allie

  9. 4 out of 5

    Martin

  10. 4 out of 5

    Jonathan Chen

  11. 5 out of 5

    Michal Hynek

  12. 4 out of 5

    Alan

  13. 4 out of 5

    Sanne Udsen

  14. 5 out of 5

    Leon

  15. 4 out of 5

    David Bottomley

  16. 5 out of 5

    Jeff

  17. 5 out of 5

    Ronald Summa

  18. 4 out of 5

    Modester Kamupinda

  19. 5 out of 5

    Marc

  20. 5 out of 5

    Marcell Nimführ

  21. 4 out of 5

    Dragan

  22. 5 out of 5

    Sarai Hernandez

  23. 4 out of 5

    L.

  24. 4 out of 5

    Paul Wildeisen

  25. 4 out of 5

    Unknown

  26. 5 out of 5

    Vliam

  27. 5 out of 5

    Radomir Radomir

  28. 4 out of 5

    James Sciandra

  29. 5 out of 5

    Steven

  30. 4 out of 5

    Andre

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