Ponzi Schemes
This fraud pays old investors with money from new investors.
What is a Ponzi scheme?
This happens when companies manipulate financial records to hide losses.
What is accounting fraud?
This person founded Theranos and falsely claimed revolutionary blood-testing technology.
Who is Elizabeth Holmes?
This happens when a company cannot pay its debts.
What is bankruptcy?
A company hides billions of dollars in debt using accounting tricks.
What is the Enron scandal?
Who ran the largest Ponzi scheme in history worth about $65 billion?
Who is Bernie Madoff?
This energy company collapsed after hiding billions in debt.
What is Enron?
This stockbroker inspired the movie The Wolf of Wall Street.
Who is Jordan Belfort?
This investment bank collapsed in 2008, triggering a global financial crisis.
What is Lehman Brothers?
A startup claims it can run hundreds of blood tests from a single drop of blood.
What is the Theranos scandal?
This businessman ran a Ponzi scheme through Stanford Financial Group
Who is Allen Stanford?
This telecom company committed one of the largest accounting frauds in U.S. history.
What is WorldCom?
This man became famous for forging checks and impersonating professionals.
Who is Frank Abagnale?
The collapse of Lehman Brothers occurred during this global crisis.
What is the 2008 Financial Crisis?
A car company installs software to cheat emissions tests.
: What is the Volkswagen scandal?
Ponzi schemes collapse when this happens.
What is not enough new investors?
This Indian IT company admitted falsifying accounts in 2009.
What is Satyam Computer Services?
This fraudster ran a massive Ponzi scheme for decades before being arrested in 2008.
Who is Bernie Madoff?
Financial collapses often occur when companies take on too much of this.
What is debt?
An investment firm promises high returns but secretly pays old investors with new money.
What is a Ponzi scheme like the one run by Bernie Madoff?
This type of fraud promises unusually high and consistent investment returns.
What is a Ponzi scheme warning sign?
This company cheated emissions tests using illegal software.
What is Volkswagen?
She was once called the youngest self-made female billionaire before the scandal.
Who is Elizabeth Holmes?
This happens when investors panic and withdraw money at the same time.
What is a bank run?
A telecom company falsely reports billions in profits.
: What is the WorldCom scandal?