Remember Nevin Shapiro? He’s the guy we named the Greatest Ponzi Schemer of All Time last August, over all other Ponzi schemers, Bernie included. While Madoff would have won if we were judging based on size alone, we weren’t. Shapiro took home the title because 1) with his ill-gotten gains, he made a name for himself in the University of Miami community and 2) he subsequently kicked things up a notch after being sent to jail, where he chose to fuck the Hurricanes’ football program raw, detailing the boatloads of prostitutes he bought for players (“I had the boat for prostitution situations”), the lavish meals he would treat them to at Benihanas, the “hit of the game” (Shapiro “put bounties on specific players, including Florida Gators quarterback Tim Tebow and a three-year standing bounty on Seminoles quarterback Chris Rix from 2002 to 2004, offering $5,000 to any player who knocked him out of a game”) and the dancer he gave $500 to have an abortion after she got knocked up by one of the athletes who he kept in the dark about the pregnancy (“I was doing him a favor–that idiot might have wanted to keep [the baby]“). Anyway, Nevs was pretty, pretty, pretty angry that none of his so-called boys stuck by him after the Ponzi charges came out, hence the disclosing of the hookers, etc and, apparently, he’s not finished letting everyone know how he feels. Continue reading »
Ponzi schemes
Convicted Ponzi Guru Scott Rothstein Wasn’t Worried About Whores, Hotboxing Derailing His Scam
By Bess Levin
Not sure how many people here know this, but there’s an old saying that when one is running on Ponzi scheme, one needs total focus. It’s a lot of work defrauding investors and while some activities by your staff are tolerable (smoking weed in every corner of the office, as well as the parking garage and the courtyard out back and having sex with prostitutes on the desk), a line must be drawn at those which create unacceptable distractions, like dealing said pot and purveying said prosties. If that doesn’t make any sense or you’re confused at the finely drawn distinction, perhaps convicted Ponzster Scott Rothstein, who was deposed on the matter today, can shed some light. Continue reading »
Barbara Walters told ABC’s “Good Morning America” on Thursday that she interviewed Madoff for two hours at the prison in Butner, N.C., where he’s serving a 150-year sentence. No cameras were allowed in the prison. Walters said Madoff told her he thought about suicide before being sent to prison, but since he’s been there he no longer thinks about it. Walters quoted Madoff as saying: “I feel safer here (in prison) than outside. I have people to talk to, no decisions to make. I know I will die in prison. I lived the last 20 years of my life in fear. Now, I have no fear because I’m no longer in control.” [AP, earlier]
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ponzi schemes
Lawyer Representing Some Of Fult-Tilt Poker Resents The Ponzi Scheme Label
By Bess LevinDid FTP maybe commit a crime? Yes. Was the crime it committed a Ponzi Scheme under the strict definition of the term? No. Continue reading »
If you were worried that Social Security is a Ponzi scheme and planned to fund your retirement with poker winnings, today turned out to be a bad day for you. While we here at Dealbreaker generally endorse keeping all of your money in poker, keeping all of your money in Full Tilt Poker was not the correct way to do so. Insofar as it now looks like you’ll only get back at best fifteen cents on the dollar. From the US Attorney’s complaint today:
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In fairness, no one straight up asked him “is Full Tilt a global Ponzi scheme,” as opposed to “a legitimate poker company.” Continue reading »
Think you don’t need to perform your own quarterly audits of your husband’s business to check for any discrepancies? Think again. Choose not to take regular looks at your meal ticket’s book and you could go from dining on the finest shellfish money can buy (“Some of those black-tie events were so fucking boring. We went to one at Blackstone? Their holiday party? I was like, I can’t believe I spent so much time getting ready for this”), chairing charities (that include pole-dancing fundraisers), residing in a $7.5 million townhouse on the Upper East Side (screening room and pool, natch), receiving all the trinkets you could ever desire (“She got whatever she wanted: diamonds—at least a quarter-million dollars’ worth, according to the U.S. Attorney’s office—designer clothes, even a new pair of boobs”) living, blissfully, prenuptial agreement free, and thinking you’d never have to go back to working the late shift at Scores… Continue reading »
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