Tamar Frankel featured in American Bankers Association's Money Laundering & Terrorism Issues Update


Ponzi Schemes Examined

Written by Professor Tamar Frankel, a member of the faculty of the Boston University Law School since 1968, The Ponzi Scheme Puzzle: A History and Analysis of Con Artists and Victims, takes a close look at the history of the Ponzi scheme. Professor Frankel spent more than ten years researching over 100 different Ponzi schemes, including the infamous one perpetrated by Bernie Madoff that cost billions in losses. "Ponzi schemes and investment frauds seem to have reached the proportion of an epidemic," Frankel writes in the introduction to her book. The book examines reasons Ponzi schemes have been successful, including analyzing the character traits of con artists and their victims. She concludes that victims bear some responsibility for their losses by not properly analyzing the investments and falling prey to the lure of "easy money."