In our effort to bring you all things Ponzi, we couldn't help but mention the article in the Journal that dedicates a great deal of formerly white space to the topic.
Federal and state authorities are reporting a growing number of financial scams that echo the alleged Madoff fraud, as strapped investors seek access to their cash amid increasingly hard times.
At least six suspected multimillion-dollar fraud cases have emerged this month alone, many of them alleged Ponzi schemes, in which investors are lured by promises of lofty returns but are actually paid off from new victims' funds.
The piece is worth the effort, particularly given the fantastic irony of the circle sized Ponzi losses graphic that, doubtless, came from JP Morgan. (The Journal might understand geometry a bit better, however).
In Echoes Of Madoff, Ponzi Cases Proliferate [The Wall Street Journal]