India Ink: Ponzi Scheme Threatens ‘Clean’ Image of Mamata Banerjee
Ms. Banerjee, who has been projected as the “symbol of honesty” in West Bengal, is fighting hard to restore voters’ confidence.
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india ink
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India Ink: Collapse of Ponzi Scheme Spreads Panic in West Bengal
An estimated $5.5 billion rupees have been lost and over 3 million people have been affected in one of the biggest financial frauds in India.
bengal
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india ink
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China to Put Businesswoman to Death
A Chinese court sentenced a businesswoman to death after prosecutors accused her of running a Ponzi scheme that defrauded investors of about $70 million.
china
chinese
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Toronto pastors charged with bilking church members of millions
The three pastors, a man and two women, face numerous charges for allegedly defrauding their congregants, family and friends out of $8.6 million in a Ponzi scheme.
million
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toronto
Beyond The Bitcoin Bubble
A few months ago, while visiting a hacker friend's magnificent new San Francisco loft, he gestured to a little alcove stuffed with server racks and said: "And over there are the Bitcoin mines." I smiled and nodded, thinking, Oh, right, Bitcoin. Is that still a thing? Andy, if you're reading this, I apologize. Is it ever, and how. Over the last few weeks the hype around everyone's favorite distributed cryptographic currency has gone insane. It's a Ponzi scheme; no, it's the first instance of the third era of currency; no, it will spiral up and down forever; no, it's the new venture-capital frontier; no, it's an existential threat to the modern state. No, possibly, conceivably, maybe, and no. But: I realized this week that Bitcoin actually is a really big deal -- in a way that's been almost entirely obscured by all the hype.
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