Human society has always been full of all kinds of tricks, from street tricks to sophisticated financial fraud. These mega-frauds not only wipe out people's fortunes, but also destroy people's desire for trust and hope. Here are some of the large** from history.
First of all, Ponzi was one of the largest financial projects planned by Italian speculative businessman Charles Ponzi in the early 20th century. He capitalized on investors' desire to get rich quick, promising high returns in just 45 days, attracting more than 10,000 investors. However, after the bubble burst in 1920, investors suffered heavy losses, and Pounds eventually died in poverty.
Second, Madoff is one of the most notorious financial** in American history. Through carefully woven "inside information" and promises of high returns, he attracted thousands of rich and celebrities and swindled him out of $65 billion. However, Madoff's ** ruptured in the 2008 financial crisis, and he was eventually sentenced to 150 years in prison.
Then there was Enron, one of the biggest corporate frauds of the early 21st century. The energy giant has used fictitious accounts and related party transactions to cover up huge debts and losses. When the truth came, Enron stock price, many investors were hit hard. In the end, Enron declared bankruptcy, and the people involved were punished by law.
In addition, WorldCom was once one of the largest telecommunications companies in the world, but an accounting scandal erupted at the beginning of the 21st century. The company's top management deliberately concealed losses of up to $3.8 billion in order to inflate profits. After the incident, WorldCom's stock price was **, and investors suffered heavy losses. The company was eventually declared bankrupt, and several executives were held criminally responsible.
The collapse of the Bank of Bahrain took place in 1995, when the bank with a long history went bankrupt due to excessive speculation and fraud by a young trader. The incident shocked the global financial markets and revealed the loopholes in the internal supervision of banks. In the end, those involved were brought to justice, which was a wake-up call for financial institutions around the world.
Parmalat is an Italian dairy giant that broke out in a shocking fraud at the end of the 20th century. The company's top management defrauded hundreds of millions of euros by falsifying accounts and false statements. Parmalat share price**, investors suffered significant losses, those involved were sentenced to prison, and the company declared bankruptcy.
The Rothschilds are a globally known financial family, but at the beginning of the 20th century, family members were involved in a series of scandals such as fraud and money laundering. These scandals led to damage to the family's reputation, and those involved were eventually brought to justice.
Finally, Goldman Sachs, one of the world's top investment banks, was accused of defrauding investors during the 2008 financial crisis. Goldman Sachs is accused of deliberately withholding risk information when designing and selling mortgages**, resulting in huge losses for investors. Goldman Sachs eventually reached a settlement with the regulator and paid a hefty fine, and those involved were held criminally responsible.
These historical mega-events warn us that the financial world is full of crises and crises, and investors must remain vigilant to avoid being scammed.