Stanford Sentenced to 110 Years in Prison for Ponzi Scheme

http://online.wsj.com/article/SB10001424052702303734204577466634068417466.html

40 years less than Bernie Madorf. Prosecution asked for 230 years! LL

So, no time off for good behaviour, then, LL? I have to say, I am amazed that people still fall for Ponzi schemes.

If it seems too good to be true - it is.

bb1 wrote:So, no time off for good behaviour, then, LL? I have to say, I am amazed that people still fall for Ponzi schemes.

If it seems too good to be true - it is.

He gets life, full stop. As for people falling for these schemes, come on bonny, thgink of all those people who are stupid enough to fall for the Nigerian scams promising instant cash for nowt, even though warnings about them have been all over the papers and TV. No, often the people who get caught up in ponzi schemes are after the quick buck. LL.

Ah, so they think this Ponzi scheme is going to somehow end differently from every other Ponzi scheme in history?

bb1 wrote:Ah, so they think this Ponzi scheme is going to somehow end differently from every other Ponzi scheme in history?

Human beings have a built-in gambling gene; some fall victim to it, others don't. And nowadays money is God, it buys all you need and more. It starts with that bet on a footie match, a scratch card, a flutter on the geegees, and then grows and grows until you get caught up in something like the ponzi schemes .... nothing comes free, nothing is that easy. I can feel pity for some people, the little ones who have so little they fall prey to an offer they can't refuse, cash to pay for the kid's education, holidays, nice car, large house, but not for those who really should know better. LL