Ponzi

Speaking at a fringe meeting at the Conservative conference in Manchester, Ms Ibrahim branded the triple lock a "Ponzi scheme" - a type of investment fraud which pays profits to earlier investors with funds from more recent investors.

After a months-long investigation, authorities have arrested a Hemet woman of suspicion of extracting nearly $200,000 in a “Ponzi scheme” involving her wholesale avocado business.

However, sheriff’s deputies say Carrasco-Ramirez engaged in a Ponzi scheme with the investment fund — a scam wherein earlier investors are paid off not with company profits but with the cash of later investors, which creates a false impression of growth and leads to additional investment.

QNET, a global lifestyle and wellness marketing company allegedly linked to the recruitment scam, has been banned from operating in Ghana since 2022 for allegedly running a Ponzi scheme.

“We remain hopeful that the other criminals who helped Girardi pull off the largest Ponzi scheme in the history of the plaintiff’s bar will also face disbarment and long prison sentences.”