Third multi-billion dollar ponzi-scheme/fraud

After Maddoff's $50 billion ponzi scheme and it's 3 million victims, followed by Satyam's $1 billion accounting fraud, here's another ponzi scheme - 1.4 billion dollars - that just went bust, in Japan this time:

TOKYO (AFP) — Japanese police on Thursday arrested a business executive who built a cult-like status among thousands of investors whom he reportedly defrauded of at least 1.4 billion dollars.

Kazutsugi Nami, chairman of now bankrupt bedding supplier L&G K.K., had promised 36 percent annual returns. His company even issued its own electronic money, which he predicted would be a hit during the global economic crisis.

I am pretty sure that lots of small hedge funds and another asset managers will soon be on the list as well.
Maybe it would make sense to actually keep track of them here?
Wait & See...

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