1. Business Scams By Matthew Peveler

2. What is a scam/fraud? A fraud is defined as something that is an intentional deception made for personal gain or to damage another individual The rise of free market and lack of regulation helps people perpetrate these crimes One of the most famous is the Ponzi Scheme

3. Ponzi Scheme?! One of the more common scams It is perpetrated based on confidence tricks and fancy jargon that confuses layman While the returns happen initially (and the scheme grows in popularity), returns will stop and the scheme will eventually collapse at some point

4. Charles Ponzi He figured out a flaw in the “International Reply Coupon” system Using money he made from that, he got people to invest in his idea on a wild guaranteed return As scheme grew, more suspicion of him grew as well His scheme finally crashed in the year of 1920

5. Nick Leeson Caused the crash of Baring's Bank, the oldest bank in the UK He had no formal training as a financial trader, yet he still acted as one He made a fortune in Singapore markets based on the lack of regulation His luck soon turned sour however and he went into a tailspin He was arrested in 1995

6. Bernard Madoff Via a combination of poor regulation and a well set-up Ponzi scheme, he made millions Harry Markopolos had complained about Madoff back in 1999 Due to the major market recession that happened in 2008, his scheme collapsed He was arrested in December of 2008

7. In Conclusion Schemes are run based on free markets and lack of regulation for the most part Using confusing financial jargon which is generally meaningless, the perperators reel in investors While most schemes crumble under their own weight, it still causes massive financial damage to all involved