 The Wild Wild World of Wealth |  |
Nevin Shapiro billed himself as one of the largest grocery wholesalers in the U.S. Nevin Shapiro is now spending the next 20 years in a federal prison. What what wrong? For one, Shapiro raised almost $1 billion from investors but never sold groceries.
What do a $16 million Ponzi scheme, couple with a big lifestyle, and $24,000 family vacation have to do with each other? Read Brian Mahany’s post, and I think you will be POed big time.
Talk about gall. This bizarre lawsuit may take the cake. Click the attached to read Brian Mahany’s story about how an alleged Ponzi schemer, the formerly venerable “Sir” Allen Stanford, is suing the government.
Acrimoney ran a post last October about reloading—that’s hitting the same Ponzi victim twice. Now with some Madoff victims losing the spread between a twenty and fifty cents recovery, I wonder if we’re seeing more of the same. Is it savvy investing or is there a functional equivalent of expert networks in the Ponzi world?
There’s plenty to discuss from the headlines these days. But this summer I’ve been buried with edits to my next novel, The Gods of Greenwich. And I’m staring at a few deadlines now. With this post, however, I’d like to take you back to the summer of 2007. It was a time before Bernie Madoff confessed, before AIG lost $99 billion in one year and before banker bonuses had everybody in a lather. Now two members of Congress occupy our attention, elected officials who sit in judgment even with their hands in the cookie jar (allegedly).
Like I said. We’re going back three years to the summer of 2007. Here’s the first chapter of Top Producer, which will be out in paperback on December 28. If you stop back tomorrow or Thursday, I’ll post Chapter Two.
Inside Edition: “It’s been reported that Madoff said, ‘Screw the victims.’ What’s your response?”
Answer in chorus: “He already did.”
Read more by clicking on the title above.
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