Need And Greed: The Story Of The Largest Ponzi Scheme In American History,New

Need And Greed: The Story Of The Largest Ponzi Scheme In American History,New

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SKU: DADAX0815606109
Brand: Syracuse University Press
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More than just a tale of manipulated financial statements, counterfeit securities, sham transactions, and cyber fraud, this story is intertwined with personalities from among the rich and famous who were involved, in some fashion, such as Governor George Pataki, actress Debbie Reynolds, attorney F. Lee Bailey, and the former chairman of the SEC. In the largest pyramid scheme in American history, the Bennett Companies which even looted their own employee's pension fund, fleeced more than 12,000 investors, 10,000 trade creditors, and 245 banks and financial institutions, of more than $1 billion. A Ponzi schemenamed for Charles Ponzi, who enticed investors with promises of high returns to purchase worthless coupons in the 1920s was taken to new heights in the 1990s by the Bennett Companies. Extensively documented, Need and Greed follows the human drama as a smalltime scam grows exponentially into nationwide holdings of hotels, floating and fixed casinos, office buildings, shopping malls, and other investments. It also allows the reader a rare view into the inner workings of bigtime crime, its prosecution, and subsequent civil litigation. Throughout the book, Weisman includes vignettes about hapless investors, portraits of the Bennetts and other key players, the corporate culture at Bennett Funding, and the trappings of the lush Bennett lifestyle.

⚠️ WARNING (California Proposition 65):

This product may contain chemicals known to the State of California to cause cancer, birth defects, or other reproductive harm.

For more information, please visit www.P65Warnings.ca.gov.

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