Ponzi
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Feds allege actor's $690 million Ponzi scheme lied about selling movies to Netflix
A small-time actor has been arrested and charged with fraud for allegedly stealing hundreds of millions from investors by claiming he could sell film rights to Netflix and HBO.
Bitcoin Ponzi scheme operator pleads guilty to fraud
Digital currencies like bitcoin are still marking many firsts, and that unfortunately includes the first crimes. Case in point: Trendon Shavers has pleaded guilty to the first-ever US securities fraud charges involving bitcoin. The Texan was accused of operating a Ponzi scheme that swiped more than $4.5 million from investors. He promised enormous returns on investment (a whopping 3,641 percent per year) to those who helped fund a stock market campaign, but was really using the money from newer customers to pay existing ones. To no one's surprise, this deception didn't last long. Nearly half (48) of the 100 investors suffered losses, and Shavers even used $147,000 of their funds to buy himself luxuries like a BMW M5 sedan.
Biggest EVE Online scam ever recorded nets over a trillion ISK
Of all the stories that come out of EVE Online's colossal sandbox, it's the tales of criminality and dirty dealings that grab our attention the most. Thefts and scams would be cause for account closure in most MMOs, but they form a legitimate and dark part of the EVE universe. The famous Guiding Hand Social Club heist of 2005, Ricdic's EBank scandal and last year's massive 800 billion ISK Titans4U scam are just a few of the most high-profile thefts and scams to hit the EVE community over the years. Today the biggest scam ever recorded hit thousands of EVE Online players like a brick in the face, netting a record one trillion ISK in final takings. Proving that old ideas still work, Eddie Lampert and Mordor Exuel pulled off a simple Ponzi scheme on a massive scale. Promising unprecedented returns of 5% per week on invested ISK, the duo convinced over 4,000 players to open accounts in their Phaser Inc. investment scheme. Many initially dubious players were eventually convinced to invest by real testimonials from their friends and corpmates. Over 1,831.67 billion ISK was invested, 345.18 billion of which was paid out as interest and 452.72 billion of which was withdrawn by wary investors. When the business closed up earlier today its owners collected the remaining 1,034 billion ISK. To put that massive number in perspective, it's enough to buy 2,953 30-day time codes worth a total of $51,677.50.
