It's been a rough year for Ponzi schemes. Nearly four times as many of the investment scams unraveled in 2009 as fell apart in 2008. Tens of thousands of investors watched more than $16.5 billion disappear like smoke in 2009, according to The Associated Press' national analysis. The recession has led to the exposure of many scams "that otherwise might have gone undetected for a longer period of time," said Lanny Breuer, assistant attorney general for the Justice Department's criminal division.
Ponzi Schemes' Collapses Nearly Quadrupled in '09
The Associated Press
December 29, 2009