Whether it is the former chairman of the NASDAQ, or a prominent,
philanthropic attorney, arrests and investigations for Poniz schemes and
other investment frauds are becoming more and more visible. Usually, what
becomes the center of attention is the lavish lifestyle that the perpetrator
has lived, benefiting off of ill-gotten proceeds. What is lost in all of the
news coverage is how easily the investors fall for such schemes, forgetting
that sometimes things may be too good to be true.
A Ponzi scheme is a fraudulent investment operation that pays out returns
to investors with the investment money of new investors. It is a perpetual
system, that if left alone and allowed to continue without interruption,
would continue to pay old investors with new investors’ money for a long
period of time. However, it all goes wrong when something goes against plan
and someone pulls out, not enough new investors are recruited, or another
aspect simply fails. Even if left alone, the Ponzi scheme will eventually
collapse under its own weight, as it is nearly impossible to recruit new
investors at the pace needed to make payouts to previous investors. While
this type of investment fraud was seen as early as 1857 in a Charles Dickens
novel, the first known case was in the 1920s by Charles Ponzi (hence the
name).
The South Florida community was recently shocked to learn of an alleged
Ponzi scheme conducted by a prominent Ft. Lauderdale attorney. While the
details of these scheme are still being uncovered, it is alleged that this
scheme spanned over several years and over $1 billion. This case was such a
shock to the South Florida community because this particular attorney was
known for his philanthropy, making over $1.9 million in political
contributions and serving on the board several charitable organizations. The
details of this scheme, and the people affected by it continue to remain on
the front page of the newspapers around the community.
The law firm of Robbins, Tunkey, Ross, Amsel, Raben & Waxman, P.A., is
one of the largest criminal defense firms in the State of Florida, with all
seven of its attorneys focusing solely on zealously representing clients in
the criminal courts across the country. The firm, and six of its attorneys
enjoy the highest rating (AV) by the Martindale Hubbell Legal Directory, and
there are also board certified criminal trial lawyers and board certified
criminal appellate attorneys. In addition, the firm has been voted the Top
Miami Criminal Defense Firm by Miami Magazine and its members are
consistently voted among the best Miami criminal lawyers by their peers in
annual surveys. The attorneys represent clients in all types of criminal
cases, including investment fraud and “Ponzi” schemes. To learn more visit
www.miami-criminal-defense-lawyer.com or you can call the office
at 305-858-9550.
Robbins, Tunkey, Ross, Amsel, Raben & Waxman, P.A
www.Miami-Criminal-Defense-Attorneys.com
2250 SW 3rd Avenue
Fourth Floor Miami, Florida 33129
Phone – 305-858-9550
About Author : Alan S. Ross attended the University of Miami where
he received Bachelor of Business Administration & Juris Doctorate degrees.
He has been a member of The Florida Bar since 1976 & practice the defense of
criminal cases in both State & Federal Courts. He has been a Partner in
http://www.miami-criminal-defense-lawyer.com/ Miami criminal defense
lawyer</a> firm & the firm of Robbins, Turkey, Ross, Amsel, Raben & Waxman,
P.A. since 1978.
