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      "body": "Congratulations @ancore! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@ancore/birthday3.png</td><td>Happy Birthday! - You are on the Steem blockchain for 3 years!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@ancore) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=ancore)_</sub>\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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      "body": "Congratulations @ancore! You have received a personal award!\n\n[![](https://steemitimages.com/70x70/http://steemitboard.com/@ancore/birthday2.png)](http://steemitboard.com/@ancore)  2 Years on Steemit\n<sub>_Click on the badge to view your Board of Honor._</sub>\n\n\n**Do not miss the last post from @steemitboard:**\n[SteemitBoard World Cup Contest - Semi Finals - Day 1](https://steemit.com/steemitboard/@steemitboard/steemitboard-world-cup-contest-semi-finals-day-1)\n\n---\n**Participate in the [SteemitBoard World Cup Contest](https://steemit.com/steemitboard/@steemitboard/steemitboard-world-cup-contest-collect-badges-and-win-free-sbd)!**\nCollect World Cup badges and win free SBD\nSupport the Gold Sponsors of the contest: [@good-karma](https://v2.steemconnect.com/sign/account-witness-vote?witness=good-karma&approve=1) and [@lukestokes](https://v2.steemconnect.com/sign/account-witness-vote?witness=lukestokes.mhth&approve=1)\n\n---\n\n> Do you like [SteemitBoard's project](https://steemit.com/@steemitboard)? Then **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!",
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      "body": "[[Fitxer:Charles Ponzi.jpg|thumb|300px|Foto de 1920 de [[Carlo Ponzi]] quan encara treballava com en negocis a la seva oficina de Boston]]\nL''''esquema Ponzi''' es una [[estafa|operacio fraudulenta]] d'[[inversio economica]] en la qual l'operador, individu o organitzacio, paga [[interes|interessos]] als inversors amb els seus propis diners invertits o dels diners de nous inversors en lloc de fer-ho amb el benefici obtingut per l'operador. Els operadors dels esquemes Ponzi generalment atrauen nous inversors en oferir un major rendiment que les altres inversions, en forma de beneficis a curt termini que son o be anormalment alts o inconsistents.\n\nEls esquemes de Ponzi sovint comencen com a negocis legitims, fins que el negoci no aconsegueix assolir els rendiments esperats. El negoci es converteix en un esquema Ponzi si continua en condicions fraudulentes. Qualsevol que sigui la situacio inicial, la perpetuacio de l'alta rendibilitat requereix un flux creixent de diners de nous inversors per mantenir l'esquema.&lt;ref name=\"ponzi\">{{ref-web|titol=Ponzi Schemes - Frequently Asked Questions|url=http://www.sec.gov/answers/ponzi.htm|obra=U.S Securities and Exchange Commission|editor=U.S Securities and Exchange Commission|consulta= 23 juny 2012}}&lt;/ref>\n\nL'esquema rep el nom per [[Charles Ponzi]],&lt;ref>{{ref-web|url=http://web.archive.org/web/20041001-20051231re_/http://www.ssa.gov/history/ponzi.html |titol=Ponzi Schemes |editor=US Social Security Administration |consulta=24 desembre 2008 }}&lt;/ref> qui es va fer famos per l'us de la tecnica en 1920.&lt;ref>{{citar ref|cognom=Peck |nom=Sarah |any=2010 |titol=Investment Ethics |editorial=John Wiley and Sons | isbn=978-0-470-43453-6 | url=http://books.google.com/books?id=EiIMJ83qRCIC&amp;pg=PA5 |pagina=5 }}&lt;/ref> La idea, present a novel*les (per exemple, la novel*la de [[Charles Dickens]] ''[[Martin Chuzzlewit]]'' de 1844 i ''[[Little Dorrit]]'' de 1857 mostren cadascuna un esquema similar),&lt;ref>{{citar ref|cognom1=Markopolos |nom1=Harry |any=2010 |titol=No One Would Listen: A True Financial Thriller |cognom2=Casey |nom2=Frank |editorial=John Wiley and Sons | isbn=978-0-470-55373-2 | url=http://books.google.com/books?id=7NeZeQ6qHq4C&amp;pg=PA50 |pagina=50 }}&lt;/ref>  va ser realment dut a terme en la vida real per Ponzi qui amb la seva operacio va obtenir tants diners que va ser el primer a donar-se a coneixer als Estats Units. L'esquema original de Ponzi es va basar en l'[[arbitratge]] de [[segell de resposta internacional|segells de resposta internacional]] per als segells postals; tanmateix, aviat va desviar diners dels inversors per realitzar pagaments als inversors anteriors i a ell mateix.&lt;ref name=\"ponzi\"/>\n== Caracteristiques ==\n[[Fitxer:Celula.gif|thumb|350px|Cel*lula Estafa]]\nEn general, es prometen rendiments extraordinaris en la inversio original&lt;ref>{{ref-web|titol=What is a Ponzi scheme?|url=http://www.mijiki.com/what-is-a-ponzi-scheme.html|obra=Mijiki|editor=Mijiki.com|consulta= 23 juny 2012}}&lt;/ref> i l'us de construccions verbals vagues tals com \"[[cobertura (finances)|cobertura]] de [[Futur (finances)|comerc de futurs]]\", \"[[Programa d'inversio d'alt rendiment|programes d'inversio d'alt rendiment]]\", o \"[[inversions a l'estranger]]\". El promotor ven accions als inversors mitjancant l'aprofitament d'una falta de competencia o coneixement dels inversors, o afirmant la propietat d'una estrategia d'inversio que s'ha de mantenir en secret per assegurar un avantatge competitiu.\n\nEls esquemes de Ponzi de vegades comencen operacions com a vehicles d'inversio legitims, com [[fons d'inversio lliure]]. Per exemple, un fons d'inversio lliure pot degenerar en un esquema Ponzi si perd diners inesperadament (o simplement no aconsegueix guanyar legitimament els retorns promesos i/o esperats) ''i si'' els promotors, en lloc d'admetre el seu fracas de complir amb les expectatives, fabriquen falsos retorns i (si cal) produeixen informes d'auditoria fraudulents.\n\nUna amplia varietat de vehicles d'inversio o estrategies, normalment legitims, s'han convertit en la base dels esquemes de Ponzi. Per exemple, [[Allen Stanford]] usava diposits o certificats bancaris per defraudar desenes de milers de persones. Els certificats de diposit son generalment instruments de baix risc i assegurats, pero els CDs de Stanford eren fraudulents.&lt;ref>{{citar ref|cognom=Kurdas |nom=Chidem |any=2012 |titol=Political Sticky Wicket: The Untouchable Ponzi Scheme of Allen Stanford | url=http://www.amazon.com/Political-Sticky-Wicket-Untouchable-Stanford/dp/1479257583/ref=sr_1_2?s=books&amp;ie=UTF8&amp;qid=1348001922&amp;sr=1-2}}&lt;/ref>\n\nInicialment, el promotor pagara una alta rendibilitat per a atraure mes inversors, i per atraure els inversors actuals a posar mes diners. D'altres inversors comencen a participar, donant lloc a un efecte de cascada. El \"retorn\" als inversors inicials es paga a carrec de les inversions dels nous operadors, i no dels guanys.\n\nSovint, l'alta rendibilitat anima als inversors a deixar els seus diners en l'esquema, amb el resultat que el promotor no ha de pagar gaire als inversors; ell simplement ha d'enviar informes mostrant tot el que han guanyat. Aixo mante l'engany que l'esquema es una inversio amb alta rendibilitat.\n \nEls promotors tambe tracten de minimitzar les sortides oferint nous plans als inversors, sovint on els diners estan congelats per un periode mes llarg, a canvi d'una major rendibilitat. El promotor veu nous fluxos d'efectiu, ja que als inversors se'ls diu que no poden transferir els diners des del primer pla cap al segon. Si uns pocs inversors volen retirar els seus diners d'acord amb els termes permesos, les seves sol*licituds es processen en general amb promptitud, el que dona la il*lusio a tots els altres inversors que el fons es [[Insolvencia|solvent]]. \n  \n== Desenredant un esquema Ponzi ==\nQuan un esquema Ponzi no es detingut per les autoritats, tard o d'hora cau a trossos per una de les seguents raons:&lt;ref name=\"ponzi\" /> \n# El promotor s'esvaeix, emportant-se tots els diners restants de la inversio (que exclou els pagaments ja fets als inversors).  \n# Des que l'esquema requereix un flux continu d'inversions per financar una major rendibilitat, una vegada que la inversio es desaccelera, l'esquema s'esfondra quan el promotor comenca a tenir problemes per pagar els beneficis promesos (quan els rendiments son mes alts, mes gran es el risc que l'esquema Ponzi es col*lapsi). Aquesta [[crisi de liquiditat]] sovint desencadena panics, a mesura que mes gent comenca a preguntar pels seus diners, similar a un [[Panic bancari]].\n# Forces del mercat extern, com una forta disminucio de l'economia (per exemple, l'[[escandol inversor de Madoff]] durant la [[Crisi financera global del 2007-2012|caiguda del mercat de 2008]]), que provoquen que molts inversors retiressin tot o part dels seus fons.\n== Exemples notables de l'esquema ==\nL'esquema eponim va ser orquestrat per [[Carlo Ponzi]], qui en 1920 va passar de l'anonimat a ser un notable milionari de [[Boston]] en sis mesos valent-se d'aquesta trama.\nSe suposava que els ingressos provenien de l'intercanvi de [[segell de resposta internacional|segells de resposta internacional]]. El prometia tornar el 50% d'interes en inversions de 45 dies o ''duplica els teus diners'' en 90 dies. Al voltant de 40.000 persones van invertir prop de 15 milions de dolars en total; al final, nomes un terc d'aquests diners els va ser tornat.\nA mes de la trama Ponzi hi ha hagut altres trames historiques similars:\n* Abans que Ponzi, en 1899 [[William Miller|William \"520 Per cent\" Miller]] va obrir la seva empresa com a \"Unio Franklin\" a [[Brooklyn]], [[Nova York]]. Miller prometia el 10% d'interes setmanal i va treure profit de les principals caracteristiques dels plans Ponzi tals com la reinversio dels beneficis dels clients. Va estafar als compradors en prop d'1 milio de dolars i va ser sentenciat a 10 anys de preso. Despres de ser perdonat, va obrir una tenda a Long Island. Durant la recerca Ponzi, Miller va ser entrevistat pel ''Boston Post'' per comparar el seu esquema amb el de Ponzi; l'entrevistador les va trobar notablement similars, pero la de Ponzi es va tornar mes famosa per guanyar set vegades mes diners.&lt;ref name=\"zuckoff\">Zuckoff, Mitchell. ''Ponzi's Scheme: The True Story of a Financial Legend.'' Random House: New York, 2005. (ISBN 1-4000-6039-7)&lt;/ref>\n* A Espanya, el primer frau piramidal del qual es te noticia s'atribueix a [[Baldomera Larra Wetoret]] filla de l'escriptor espanyol [[Mariano Jose de Larra]], cap als anys setanta del segle XIX va iniciar les seves operacions prometent a qui li deixava una unca d'or que en un mes la retornaria duplicada. Operava a la vista de tots pagant un 30% mensual, amb els diners que li donaven els nous impositors. Es va dir que va arribar a recaptar 22 milions de rals i el reconegut escriptor [[Juan Eduardo Zuniga]] xifra els afectats en 5.000. La seva fama va transcendir fronteres com ho demostren periodics de llavors com [[Le Figaro]] de Paris i [[L'Independance Belge]] de [[Brussel*les]]. La fallida va sobrevenir al desembre de 1876 quan ella va desapareixer, amb tots els diners que va poder, encara que dos anys mes tard va ser detinguda a Franca i va ser condemnada a sis anys de preso el 26 de maig de 1879.&lt;ref>[http://www.elpais.com/articulo/economia/arte/estafa/elpepueco/20090321elpepueco_1/Tes Baldomera Larra creadora del fraude piramidal en los anos setenta del siglo XIX]&lt;/ref>\n* Entre 1970 i 1984 en [[Portugal]], una dona coneguda com a Dona Branca va mantenir un esquema que pagava el 10% mensual d'interes. En 1988 va ser sentenciada a 10 anys de preso. Ella sempre va declarar que nomes tractava d'ajudar als pobres, pero en el seu intent es va demostrar que ella havia rebut l'equivalent a 85 milions d'[[euro]]s.&lt;ref>[http://www.visaoonline.pt/ Visao], Apanhados pelos selos, 18 de maig 2006&lt;/ref>&lt;ref>[http://www.canalsur.es CanalSurWeb], Banqueros del pueblo, 12 de maig 2006&lt;/ref>\n* Al gener de 1984 Adriaan Nieuwoudt va iniciar un esquema amb un aparent producte a [[Sud-africa]]. Als subscriptors del pla se'ls enviava un \"activador\", usat per conrear en llet una substancia, que al seu torn era retornada a la Kubus Kwekery amb un 30% de benefici sobre els diners pagats per l'activador. El Tribunal Suprem del Cap va determinar que l'esquema Kubus era una loteria il*legal.&lt;ref>[http://www.legalcity.net/Index.cfm?fuseaction=RIGHTS.article&amp;Index=S&amp;ArticleID=5235121&amp;Page=1 Legal City], Scams and other money-making schemes.&lt;/ref>\n* Al [[Peru]] durant la decada dels vuitanta, una financera informal denominada \"Centre Llatinoamerica d'Assessoria Empresarial\" (CLAE) dirigida per Carlos Manrique Carreno pagava entre 80 i 100% anuals als seus estalviadors, arribant a manejar fins a 360 milions de dolars provinents d'unes 160 mil persones. En 1993 CLAE es intervinguda i posteriorment dissolta per no poder acreditar les seves suposades inversions, ni mostrar llibres comptables. Manrique va fugir als [[Estats Units]] on fou capturat i extradit al Peru, on va ser empresonat fins a 2001.&lt;ref>[https://www.asfi.gob.bo/Portals/0/Documentos/EstafasPiramidales.pdf Estafas Piramidales - Lecciones aprendidas]&lt;/ref>\n* Mil sis-cents inversors en la companyia Diamond Mortgage i A.J. Obie, dues empreses amb els mateixos administradors, van perdre aproximadament 50 milions de dolars en el que la cort d'apel*lacions de Michigan va descriure com \"L'esquema 'Ponzi' mes gran reportat en la historia de l'estat.\"&lt;ref>People v. Greenberg,\"176 Mich App 296, 299; 439 NW2nd 336(1989) cited in U.S. Supreme Court, 05-1342, Watters vs Wachovia Bank, page 6. At [http://www.abanet.org/publiced/preview/briefs/pdfs/06-07/05-1342_Petitioner.pdf] American Bar Association site ABAnet.com, Retrieved [[29 d'agost]], [[2007]]&lt;/ref>&lt;ref>[http://www.kttlaw.com/images/news/keyfetz_home_ownership_equity_protection.pdf] Keyfetz, Lisa, \"The home ownership and equity protection act of 1994: extending liability for predatory subprime loans to secondary mortgage market participants.\" Loyola Consumer Law Review, Vol 18:2, pages 165-166&lt;/ref>\n* Des de 2003 s'ha estes per gran part d'Europa (primer a Austria, Suissa i Franca; mes recentment a Romania, Irlanda, Polonia i Espanya) un \"club de compra\" anomenat \"Lyoness\", que promet beneficis immediats per comprar en les empreses associades, i grans beneficis a llarg termini amb una inversio previa. Encara que l'empresa ha rebut denuncies que li atribueixen l'us de l'esquema Ponzi com a mitja d'estafa, aixo mai ha pogut ser provat, ja que la principal aportacio de beneficis ve de les compres dels afiliats de consum, i no de la inversio dels afiliats de negoci. Una denuncia per publicitat enganyosa a Austria, al marc de 2012, es va resoldre a favor dels denunciants, encara que va ser recorreguda per Lyoness.&lt;ref>[http://www.ots.at/presseaussendung/OTE_20120313_OTE0010/the-first-court-decision-against-lyoness/  Informacion de la sentencia contra Lyoness por publicidad enganosa en Austria]&lt;/ref>\n* [[D.M.G. Grupo Holding S.A.]] va ser una empresa colombiana que va estafar gran quantitat de persones sota aquest esquema.\n* Al marc de 2012, Allen Stanford va ser declarat culpable per un tribunal de Houston, Texas, de defraudar 30.000 inversors a traves del seu Stanford International Bank, amb seu a [[Antigua]], per valor de set mil milions de dolars.&lt;ref> [http://www.bbc.co.uk/news/world-us-canada-17274724 <<Allen Stanford found guilty in $7bn Ponzi scheme>>] [[BBC]] {{en}} &lt;/ref>\n* [[Publifast]] a l'Equador mes de 500 persones denuncien haver estat estafades per Publifast, una empresa de publicitat per Internet. Els clients pagaven perque les seves marques fossin promocionades a traves de les xarxes socials.\n\n== Referencies ==\n{{Referencies|2}}\n\n== Vegeu tambe ==\n* [[Frau piramidal]]\n\n== Lectures ==\n*{{ref-llibre|titol= The Ponzi Scheme Puzzle: A History and Analysis of Con Artists and Victims |cognom=Frankel |nom=Tamar |any=2012 |editorial=Oxford University Press |lloc=USA |isbn= 0199926611}}\n*{{ref-llibre|titol=Ponzi: The Incredible True Story of the King of Financial Cons (Library of Larceny) (Paperback) |cognom=Dunn |nom=Donald |any=2004 |editorial=Broadway |lloc=New York |isbn=0-7679-1499-6}}\n*{{ref-llibre|titol=Ponzi's Scheme: The True Story of a Financial Legend |cognom=Zuckoff |nom=Mitchell  |any=2005 |editorial=Random House |lloc=New York |isbn=1-4000-6039-7}}\n{{refend}}\n* Leila Schneps i Coralie Colmez, ''Math on trial. How numbers get used and abused in the courtroom'', Basic Books, 2013. ISBN 978-0-465-03292-1. (Eighth chapter: \"Math error number 8: underestimation. The case of Charles Ponzi: American dream, American scheme\").\n* [http://mpra.ub.uni-muenchen.de/14420/1/ponziMSS.pdf \"The Mathematics of Ponzi schemes\"], Artzrouni, April 2009\n\n== Enllacos externs ==\n{{commonscat|Esquema Ponzi}}\n* [http://www.sec.gov/answers/ponzi.htm FAQ Esquemes Ponzi] Informacio i assessorament de la Comissio de Valors dels EUA.\n* [http://www.cftc.gov/ConsumerProtection/FraudAwarenessPrevention/index.htm Coneixement del Frau i Prevencio] Informacio sobre la deteccio de frau al US Commodities Futures Trading Commission\n* [http://bookstore.gpo.gov/marketplace/39527 Ponzimonium] e-book lliure sobre esquemes Ponzi per la US Commodity Futures Trading Commission\n\n[[Categoria:Frau]]\n<img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\">[[Fitxer:Charles Ponzi.jpg|thumb|300px|Foto de 1920 de [[Carlo Ponzi]] quan encara treballava com en negocis a la seva oficina de Boston]]\nL''''esquema Ponzi''' es una [[estafa|operacio fraudulenta]] d'[[inversio economica]] en la qual l'operador, individu o organitzacio, paga [[interes|interessos]] als inversors amb els seus propis diners invertits o dels diners de nous inversors en lloc de fer-ho amb el benefici obtingut per l'operador. Els operadors dels esquemes Ponzi generalment atrauen nous inversors en oferir un major rendiment que les altres inversions, en forma de beneficis a curt termini que son o be anormalment alts o inconsistents.\n\nEls esquemes de Ponzi sovint comencen com a negocis legitims, fins que el negoci no aconsegueix assolir els rendiments esperats. El negoci es converteix en un esquema Ponzi si continua en condicions fraudulentes. Qualsevol que sigui la situacio inicial, la perpetuacio de l'alta rendibilitat requereix un flux creixent de diners de nous inversors per mantenir l'esquema.&lt;ref name=\"ponzi\">{{ref-web|titol=Ponzi Schemes - Frequently Asked Questions|url=http://www.sec.gov/answers/ponzi.htm|obra=U.S Securities and Exchange Commission|editor=U.S Securities and Exchange Commission|consulta= 23 juny 2012}}&lt;/ref>\n\nL'esquema rep el nom per [[Charles Ponzi]],&lt;ref>{{ref-web|url=http://web.archive.org/web/20041001-20051231re_/http://www.ssa.gov/history/ponzi.html |titol=Ponzi Schemes |editor=US Social Security Administration |consulta=24 desembre 2008 }}&lt;/ref> qui es va fer famos per l'us de la tecnica en 1920.&lt;ref>{{citar ref|cognom=Peck |nom=Sarah |any=2010 |titol=Investment Ethics |editorial=John Wiley and Sons | isbn=978-0-470-43453-6 | url=http://books.google.com/books?id=EiIMJ83qRCIC&amp;pg=PA5 |pagina=5 }}&lt;/ref> La idea, present a novel*les (per exemple, la novel*la de [[Charles Dickens]] ''[[Martin Chuzzlewit]]'' de 1844 i ''[[Little Dorrit]]'' de 1857 mostren cadascuna un esquema similar),&lt;ref>{{citar ref|cognom1=Markopolos |nom1=Harry |any=2010 |titol=No One Would Listen: A True Financial Thriller |cognom2=Casey |nom2=Frank |editorial=John Wiley and Sons | isbn=978-0-470-55373-2 | url=http://books.google.com/books?id=7NeZeQ6qHq4C&amp;pg=PA50 |pagina=50 }}&lt;/ref>  va ser realment dut a terme en la vida real per Ponzi qui amb la seva operacio va obtenir tants diners que va ser el primer a donar-se a coneixer als Estats Units. L'esquema original de Ponzi es va basar en l'[[arbitratge]] de [[segell de resposta internacional|segells de resposta internacional]] per als segells postals; tanmateix, aviat va desviar diners dels inversors per realitzar pagaments als inversors anteriors i a ell mateix.&lt;ref name=\"ponzi\"/>\n== Caracteristiques ==\n[[Fitxer:Celula.gif|thumb|350px|Cel*lula Estafa]]\nEn general, es prometen rendiments extraordinaris en la inversio original&lt;ref>{{ref-web|titol=What is a Ponzi scheme?|url=http://www.mijiki.com/what-is-a-ponzi-scheme.html|obra=Mijiki|editor=Mijiki.com|consulta= 23 juny 2012}}&lt;/ref> i l'us de construccions verbals vagues tals com \"[[cobertura (finances)|cobertura]] de [[Futur (finances)|comerc de futurs]]\", \"[[Programa d'inversio d'alt rendiment|programes d'inversio d'alt rendiment]]\", o \"[[inversions a l'estranger]]\". El promotor ven accions als inversors mitjancant l'aprofitament d'una falta de competencia o coneixement dels inversors, o afirmant la propietat d'una estrategia d'inversio que s'ha de mantenir en secret per assegurar un avantatge competitiu.\n\nEls esquemes de Ponzi de vegades comencen operacions com a vehicles d'inversio legitims, com [[fons d'inversio lliure]]. Per exemple, un fons d'inversio lliure pot degenerar en un esquema Ponzi si perd diners inesperadament (o simplement no aconsegueix guanyar legitimament els retorns promesos i/o esperats) ''i si'' els promotors, en lloc d'admetre el seu fracas de complir amb les expectatives, fabriquen falsos retorns i (si cal) produeixen informes d'auditoria fraudulents.\n\nUna amplia varietat de vehicles d'inversio o estrategies, normalment legitims, s'han convertit en la base dels esquemes de Ponzi. Per exemple, [[Allen Stanford]] usava diposits o certificats bancaris per defraudar desenes de milers de persones. Els certificats de diposit son generalment instruments de baix risc i assegurats, pero els CDs de Stanford eren fraudulents.&lt;ref>{{citar ref|cognom=Kurdas |nom=Chidem |any=2012 |titol=Political Sticky Wicket: The Untouchable Ponzi Scheme of Allen Stanford | url=http://www.amazon.com/Political-Sticky-Wicket-Untouchable-Stanford/dp/1479257583/ref=sr_1_2?s=books&amp;ie=UTF8&amp;qid=1348001922&amp;sr=1-2}}&lt;/ref>\n\nInicialment, el promotor pagara una alta rendibilitat per a atraure mes inversors, i per atraure els inversors actuals a posar mes diners. D'altres inversors comencen a participar, donant lloc a un efecte de cascada. El \"retorn\" als inversors inicials es paga a carrec de les inversions dels nous operadors, i no dels guanys.\n\nSovint, l'alta rendibilitat anima als inversors a deixar els seus diners en l'esquema, amb el resultat que el promotor no ha de pagar gaire als inversors; ell simplement ha d'enviar informes mostrant tot el que han guanyat. Aixo mante l'engany que l'esquema es una inversio amb alta rendibilitat.\n \nEls promotors tambe tracten de minimitzar les sortides oferint nous plans als inversors, sovint on els diners estan congelats per un periode mes llarg, a canvi d'una major rendibilitat. El promotor veu nous fluxos d'efectiu, ja que als inversors se'ls diu que no poden transferir els diners des del primer pla cap al segon. Si uns pocs inversors volen retirar els seus diners d'acord amb els termes permesos, les seves sol*licituds es processen en general amb promptitud, el que dona la il*lusio a tots els altres inversors que el fons es [[Insolvencia|solvent]]. \n  \n== Desenredant un esquema Ponzi ==\nQuan un esquema Ponzi no es detingut per les autoritats, tard o d'hora cau a trossos per una de les seguents raons:&lt;ref name=\"ponzi\" /> \n# El promotor s'esvaeix, emportant-se tots els diners restants de la inversio (que exclou els pagaments ja fets als inversors).  \n# Des que l'esquema requereix un flux continu d'inversions per financar una major rendibilitat, una vegada que la inversio es desaccelera, l'esquema s'esfondra quan el promotor comenca a tenir problemes per pagar els beneficis promesos (quan els rendiments son mes alts, mes gran es el risc que l'esquema Ponzi es col*lapsi). Aquesta [[crisi de liquiditat]] sovint desencadena panics, a mesura que mes gent comenca a preguntar pels seus diners, similar a un [[Panic bancari]].\n# Forces del mercat extern, com una forta disminucio de l'economia (per exemple, l'[[escandol inversor de Madoff]] durant la [[Crisi financera global del 2007-2012|caiguda del mercat de 2008]]), que provoquen que molts inversors retiressin tot o part dels seus fons.\n== Exemples notables de l'esquema ==\nL'esquema eponim va ser orquestrat per [[Carlo Ponzi]], qui en 1920 va passar de l'anonimat a ser un notable milionari de [[Boston]] en sis mesos valent-se d'aquesta trama.\nSe suposava que els ingressos provenien de l'intercanvi de [[segell de resposta internacional|segells de resposta internacional]]. El prometia tornar el 50% d'interes en inversions de 45 dies o ''duplica els teus diners'' en 90 dies. Al voltant de 40.000 persones van invertir prop de 15 milions de dolars en total; al final, nomes un terc d'aquests diners els va ser tornat.\nA mes de la trama Ponzi hi ha hagut altres trames historiques similars:\n* Abans que Ponzi, en 1899 [[William Miller|William \"520 Per cent\" Miller]] va obrir la seva empresa com a \"Unio Franklin\" a [[Brooklyn]], [[Nova York]]. Miller prometia el 10% d'interes setmanal i va treure profit de les principals caracteristiques dels plans Ponzi tals com la reinversio dels beneficis dels clients. Va estafar als compradors en prop d'1 milio de dolars i va ser sentenciat a 10 anys de preso. Despres de ser perdonat, va obrir una tenda a Long Island. Durant la recerca Ponzi, Miller va ser entrevistat pel ''Boston Post'' per comparar el seu esquema amb el de Ponzi; l'entrevistador les va trobar notablement similars, pero la de Ponzi es va tornar mes famosa per guanyar set vegades mes diners.&lt;ref name=\"zuckoff\">Zuckoff, Mitchell. ''Ponzi's Scheme: The True Story of a Financial Legend.'' Random House: New York, 2005. (ISBN 1-4000-6039-7)&lt;/ref>\n* A Espanya, el primer frau piramidal del qual es te noticia s'atribueix a [[Baldomera Larra Wetoret]] filla de l'escriptor espanyol [[Mariano Jose de Larra]], cap als anys setanta del segle XIX va iniciar les seves operacions prometent a qui li deixava una unca d'or que en un mes la retornaria duplicada. Operava a la vista de tots pagant un 30% mensual, amb els diners que li donaven els nous impositors. Es va dir que va arribar a recaptar 22 milions de rals i el reconegut escriptor [[Juan Eduardo Zuniga]] xifra els afectats en 5.000. La seva fama va transcendir fronteres com ho demostren periodics de llavors com [[Le Figaro]] de Paris i [[L'Independance Belge]] de [[Brussel*les]]. La fallida va sobrevenir al desembre de 1876 quan ella va desapareixer, amb tots els diners que va poder, encara que dos anys mes tard va ser detinguda a Franca i va ser condemnada a sis anys de preso el 26 de maig de 1879.&lt;ref>[http://www.elpais.com/articulo/economia/arte/estafa/elpepueco/20090321elpepueco_1/Tes Baldomera Larra creadora del fraude piramidal en los anos setenta del siglo XIX]&lt;/ref>\n* Entre 1970 i 1984 en [[Portugal]], una dona coneguda com a Dona Branca va mantenir un esquema que pagava el 10% mensual d'interes. En 1988 va ser sentenciada a 10 anys de preso. Ella sempre va declarar que nomes tractava d'ajudar als pobres, pero en el seu intent es va demostrar que ella havia rebut l'equivalent a 85 milions d'[[euro]]s.&lt;ref>[http://www.visaoonline.pt/ Visao], Apanhados pelos selos, 18 de maig 2006&lt;/ref>&lt;ref>[http://www.canalsur.es CanalSurWeb], Banqueros del pueblo, 12 de maig 2006&lt;/ref>\n* Al gener de 1984 Adriaan Nieuwoudt va iniciar un esquema amb un aparent producte a [[Sud-africa]]. Als subscriptors del pla se'ls enviava un \"activador\", usat per conrear en llet una substancia, que al seu torn era retornada a la Kubus Kwekery amb un 30% de benefici sobre els diners pagats per l'activador. El Tribunal Suprem del Cap va determinar que l'esquema Kubus era una loteria il*legal.&lt;ref>[http://www.legalcity.net/Index.cfm?fuseaction=RIGHTS.article&amp;Index=S&amp;ArticleID=5235121&amp;Page=1 Legal City], Scams and other money-making schemes.&lt;/ref>\n* Al [[Peru]] durant la decada dels vuitanta, una financera informal denominada \"Centre Llatinoamerica d'Assessoria Empresarial\" (CLAE) dirigida per Carlos Manrique Carreno pagava entre 80 i 100% anuals als seus estalviadors, arribant a manejar fins a 360 milions de dolars provinents d'unes 160 mil persones. En 1993 CLAE es intervinguda i posteriorment dissolta per no poder acreditar les seves suposades inversions, ni mostrar llibres comptables. Manrique va fugir als [[Estats Units]] on fou capturat i extradit al Peru, on va ser empresonat fins a 2001.&lt;ref>[https://www.asfi.gob.bo/Portals/0/Documentos/EstafasPiramidales.pdf Estafas Piramidales - Lecciones aprendidas]&lt;/ref>\n* Mil sis-cents inversors en la companyia Diamond Mortgage i A.J. Obie, dues empreses amb els mateixos administradors, van perdre aproximadament 50 milions de dolars en el que la cort d'apel*lacions de Michigan va descriure com \"L'esquema 'Ponzi' mes gran reportat en la historia de l'estat.\"&lt;ref>People v. Greenberg,\"176 Mich App 296, 299; 439 NW2nd 336(1989) cited in U.S. Supreme Court, 05-1342, Watters vs Wachovia Bank, page 6. At [http://www.abanet.org/publiced/preview/briefs/pdfs/06-07/05-1342_Petitioner.pdf] American Bar Association site ABAnet.com, Retrieved [[29 d'agost]], [[2007]]&lt;/ref>&lt;ref>[http://www.kttlaw.com/images/news/keyfetz_home_ownership_equity_protection.pdf] Keyfetz, Lisa, \"The home ownership and equity protection act of 1994: extending liability for predatory subprime loans to secondary mortgage market participants.\" Loyola Consumer Law Review, Vol 18:2, pages 165-166&lt;/ref>\n* Des de 2003 s'ha estes per gran part d'Europa (primer a Austria, Suissa i Franca; mes recentment a Romania, Irlanda, Polonia i Espanya) un \"club de compra\" anomenat \"Lyoness\", que promet beneficis immediats per comprar en les empreses associades, i grans beneficis a llarg termini amb una inversio previa. Encara que l'empresa ha rebut denuncies que li atribueixen l'us de l'esquema Ponzi com a mitja d'estafa, aixo mai ha pogut ser provat, ja que la principal aportacio de beneficis ve de les compres dels afiliats de consum, i no de la inversio dels afiliats de negoci. Una denuncia per publicitat enganyosa a Austria, al marc de 2012, es va resoldre a favor dels denunciants, encara que va ser recorreguda per Lyoness.&lt;ref>[http://www.ots.at/presseaussendung/OTE_20120313_OTE0010/the-first-court-decision-against-lyoness/  Informacion de la sentencia contra Lyoness por publicidad enganosa en Austria]&lt;/ref>\n* [[D.M.G. Grupo Holding S.A.]] va ser una empresa colombiana que va estafar gran quantitat de persones sota aquest esquema.\n* Al marc de 2012, Allen Stanford va ser declarat culpable per un tribunal de Houston, Texas, de defraudar 30.000 inversors a traves del seu Stanford International Bank, amb seu a [[Antigua]], per valor de set mil milions de dolars.&lt;ref> [http://www.bbc.co.uk/news/world-us-canada-17274724 <<Allen Stanford found guilty in $7bn Ponzi scheme>>] [[BBC]] {{en}} &lt;/ref>\n* [[Publifast]] a l'Equador mes de 500 persones denuncien haver estat estafades per Publifast, una empresa de publicitat per Internet. Els clients pagaven perque les seves marques fossin promocionades a traves de les xarxes socials.\n\n== Referencies ==\n{{Referencies|2}}\n\n== Vegeu tambe ==\n* [[Frau piramidal]]\n\n== Lectures ==\n*{{ref-llibre|titol= The Ponzi Scheme Puzzle: A History and Analysis of Con Artists and Victims |cognom=Frankel |nom=Tamar |any=2012 |editorial=Oxford University Press |lloc=USA |isbn= 0199926611}}\n*{{ref-llibre|titol=Ponzi: The Incredible True Story of the King of Financial Cons (Library of Larceny) (Paperback) |cognom=Dunn |nom=Donald |any=2004 |editorial=Broadway |lloc=New York |isbn=0-7679-1499-6}}\n*{{ref-llibre|titol=Ponzi's Scheme: The True Story of a Financial Legend |cognom=Zuckoff |nom=Mitchell  |any=2005 |editorial=Random House |lloc=New York |isbn=1-4000-6039-7}}\n{{refend}}\n* Leila Schneps i Coralie Colmez, ''Math on trial. How numbers get used and abused in the courtroom'', Basic Books, 2013. ISBN 978-0-465-03292-1. (Eighth chapter: \"Math error number 8: underestimation. The case of Charles Ponzi: American dream, American scheme\").\n* [http://mpra.ub.uni-muenchen.de/14420/1/ponziMSS.pdf \"The Mathematics of Ponzi schemes\"], Artzrouni, April 2009\n\n== Enllacos externs ==\n{{commonscat|Esquema Ponzi}}\n* [http://www.sec.gov/answers/ponzi.htm FAQ Esquemes Ponzi] Informacio i assessorament de la Comissio de Valors dels EUA.\n* [http://www.cftc.gov/ConsumerProtection/FraudAwarenessPrevention/index.htm Coneixement del Frau i Prevencio] Informacio sobre la deteccio de frau al US Commodities Futures Trading Commission\n* [http://bookstore.gpo.gov/marketplace/39527 Ponzimonium] e-book lliure sobre esquemes Ponzi per la US Commodity Futures Trading Commission\n\n[[Categoria:Frau]]\n<img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img 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src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\">[[Fitxer:Charles Ponzi.jpg|thumb|300px|Foto de 1920 de [[Carlo Ponzi]] quan encara treballava com en negocis a la seva oficina de Boston]]\nL''''esquema Ponzi''' es una [[estafa|operacio fraudulenta]] d'[[inversio economica]] en la qual l'operador, individu o organitzacio, paga [[interes|interessos]] als inversors amb els seus propis diners invertits o dels diners de nous inversors en lloc de fer-ho amb el benefici obtingut per l'operador. Els operadors dels esquemes Ponzi generalment atrauen nous inversors en oferir un major rendiment que les altres inversions, en forma de beneficis a curt termini que son o be anormalment alts o inconsistents.\n\nEls esquemes de Ponzi sovint comencen com a negocis legitims, fins que el negoci no aconsegueix assolir els rendiments esperats. El negoci es converteix en un esquema Ponzi si continua en condicions fraudulentes. Qualsevol que sigui la situacio inicial, la perpetuacio de l'alta rendibilitat requereix un flux creixent de diners de nous inversors per mantenir l'esquema.&lt;ref name=\"ponzi\">{{ref-web|titol=Ponzi Schemes - Frequently Asked Questions|url=http://www.sec.gov/answers/ponzi.htm|obra=U.S Securities and Exchange Commission|editor=U.S Securities and Exchange Commission|consulta= 23 juny 2012}}&lt;/ref>\n\nL'esquema rep el nom per [[Charles Ponzi]],&lt;ref>{{ref-web|url=http://web.archive.org/web/20041001-20051231re_/http://www.ssa.gov/history/ponzi.html |titol=Ponzi Schemes |editor=US Social Security Administration |consulta=24 desembre 2008 }}&lt;/ref> qui es va fer famos per l'us de la tecnica en 1920.&lt;ref>{{citar ref|cognom=Peck |nom=Sarah |any=2010 |titol=Investment Ethics |editorial=John Wiley and Sons | isbn=978-0-470-43453-6 | url=http://books.google.com/books?id=EiIMJ83qRCIC&amp;pg=PA5 |pagina=5 }}&lt;/ref> La idea, present a novel*les (per exemple, la novel*la de [[Charles Dickens]] ''[[Martin Chuzzlewit]]'' de 1844 i ''[[Little Dorrit]]'' de 1857 mostren cadascuna un esquema similar),&lt;ref>{{citar ref|cognom1=Markopolos |nom1=Harry |any=2010 |titol=No One Would Listen: A True Financial Thriller |cognom2=Casey |nom2=Frank |editorial=John Wiley and Sons | isbn=978-0-470-55373-2 | url=http://books.google.com/books?id=7NeZeQ6qHq4C&amp;pg=PA50 |pagina=50 }}&lt;/ref>  va ser realment dut a terme en la vida real per Ponzi qui amb la seva operacio va obtenir tants diners que va ser el primer a donar-se a coneixer als Estats Units. L'esquema original de Ponzi es va basar en l'[[arbitratge]] de [[segell de resposta internacional|segells de resposta internacional]] per als segells postals; tanmateix, aviat va desviar diners dels inversors per realitzar pagaments als inversors anteriors i a ell mateix.&lt;ref name=\"ponzi\"/>\n== Caracteristiques ==\n[[Fitxer:Celula.gif|thumb|350px|Cel*lula Estafa]]\nEn general, es prometen rendiments extraordinaris en la inversio original&lt;ref>{{ref-web|titol=What is a Ponzi scheme?|url=http://www.mijiki.com/what-is-a-ponzi-scheme.html|obra=Mijiki|editor=Mijiki.com|consulta= 23 juny 2012}}&lt;/ref> i l'us de construccions verbals vagues tals com \"[[cobertura (finances)|cobertura]] de [[Futur (finances)|comerc de futurs]]\", \"[[Programa d'inversio d'alt rendiment|programes d'inversio d'alt rendiment]]\", o \"[[inversions a l'estranger]]\". El promotor ven accions als inversors mitjancant l'aprofitament d'una falta de competencia o coneixement dels inversors, o afirmant la propietat d'una estrategia d'inversio que s'ha de mantenir en secret per assegurar un avantatge competitiu.\n\nEls esquemes de Ponzi de vegades comencen operacions com a vehicles d'inversio legitims, com [[fons d'inversio lliure]]. Per exemple, un fons d'inversio lliure pot degenerar en un esquema Ponzi si perd diners inesperadament (o simplement no aconsegueix guanyar legitimament els retorns promesos i/o esperats) ''i si'' els promotors, en lloc d'admetre el seu fracas de complir amb les expectatives, fabriquen falsos retorns i (si cal) produeixen informes d'auditoria fraudulents.\n\nUna amplia varietat de vehicles d'inversio o estrategies, normalment legitims, s'han convertit en la base dels esquemes de Ponzi. Per exemple, [[Allen Stanford]] usava diposits o certificats bancaris per defraudar desenes de milers de persones. Els certificats de diposit son generalment instruments de baix risc i assegurats, pero els CDs de Stanford eren fraudulents.&lt;ref>{{citar ref|cognom=Kurdas |nom=Chidem |any=2012 |titol=Political Sticky Wicket: The Untouchable Ponzi Scheme of Allen Stanford | url=http://www.amazon.com/Political-Sticky-Wicket-Untouchable-Stanford/dp/1479257583/ref=sr_1_2?s=books&amp;ie=UTF8&amp;qid=1348001922&amp;sr=1-2}}&lt;/ref>\n\nInicialment, el promotor pagara una alta rendibilitat per a atraure mes inversors, i per atraure els inversors actuals a posar mes diners. D'altres inversors comencen a participar, donant lloc a un efecte de cascada. El \"retorn\" als inversors inicials es paga a carrec de les inversions dels nous operadors, i no dels guanys.\n\nSovint, l'alta rendibilitat anima als inversors a deixar els seus diners en l'esquema, amb el resultat que el promotor no ha de pagar gaire als inversors; ell simplement ha d'enviar informes mostrant tot el que han guanyat. Aixo mante l'engany que l'esquema es una inversio amb alta rendibilitat.\n \nEls promotors tambe tracten de minimitzar les sortides oferint nous plans als inversors, sovint on els diners estan congelats per un periode mes llarg, a canvi d'una major rendibilitat. El promotor veu nous fluxos d'efectiu, ja que als inversors se'ls diu que no poden transferir els diners des del primer pla cap al segon. Si uns pocs inversors volen retirar els seus diners d'acord amb els termes permesos, les seves sol*licituds es processen en general amb promptitud, el que dona la il*lusio a tots els altres inversors que el fons es [[Insolvencia|solvent]]. \n  \n== Desenredant un esquema Ponzi ==\nQuan un esquema Ponzi no es detingut per les autoritats, tard o d'hora cau a trossos per una de les seguents raons:&lt;ref name=\"ponzi\" /> \n# El promotor s'esvaeix, emportant-se tots els diners restants de la inversio (que exclou els pagaments ja fets als inversors).  \n# Des que l'esquema requereix un flux continu d'inversions per financar una major rendibilitat, una vegada que la inversio es desaccelera, l'esquema s'esfondra quan el promotor comenca a tenir problemes per pagar els beneficis promesos (quan els rendiments son mes alts, mes gran es el risc que l'esquema Ponzi es col*lapsi). Aquesta [[crisi de liquiditat]] sovint desencadena panics, a mesura que mes gent comenca a preguntar pels seus diners, similar a un [[Panic bancari]].\n# Forces del mercat extern, com una forta disminucio de l'economia (per exemple, l'[[escandol inversor de Madoff]] durant la [[Crisi financera global del 2007-2012|caiguda del mercat de 2008]]), que provoquen que molts inversors retiressin tot o part dels seus fons.\n== Exemples notables de l'esquema ==\nL'esquema eponim va ser orquestrat per [[Carlo Ponzi]], qui en 1920 va passar de l'anonimat a ser un notable milionari de [[Boston]] en sis mesos valent-se d'aquesta trama.\nSe suposava que els ingressos provenien de l'intercanvi de [[segell de resposta internacional|segells de resposta internacional]]. El prometia tornar el 50% d'interes en inversions de 45 dies o ''duplica els teus diners'' en 90 dies. Al voltant de 40.000 persones van invertir prop de 15 milions de dolars en total; al final, nomes un terc d'aquests diners els va ser tornat.\nA mes de la trama Ponzi hi ha hagut altres trames historiques similars:\n* Abans que Ponzi, en 1899 [[William Miller|William \"520 Per cent\" Miller]] va obrir la seva empresa com a \"Unio Franklin\" a [[Brooklyn]], [[Nova York]]. Miller prometia el 10% d'interes setmanal i va treure profit de les principals caracteristiques dels plans Ponzi tals com la reinversio dels beneficis dels clients. Va estafar als compradors en prop d'1 milio de dolars i va ser sentenciat a 10 anys de preso. Despres de ser perdonat, va obrir una tenda a Long Island. Durant la recerca Ponzi, Miller va ser entrevistat pel ''Boston Post'' per comparar el seu esquema amb el de Ponzi; l'entrevistador les va trobar notablement similars, pero la de Ponzi es va tornar mes famosa per guanyar set vegades mes diners.&lt;ref name=\"zuckoff\">Zuckoff, Mitchell. ''Ponzi's Scheme: The True Story of a Financial Legend.'' Random House: New York, 2005. (ISBN 1-4000-6039-7)&lt;/ref>\n* A Espanya, el primer frau piramidal del qual es te noticia s'atribueix a [[Baldomera Larra Wetoret]] filla de l'escriptor espanyol [[Mariano Jose de Larra]], cap als anys setanta del segle XIX va iniciar les seves operacions prometent a qui li deixava una unca d'or que en un mes la retornaria duplicada. Operava a la vista de tots pagant un 30% mensual, amb els diners que li donaven els nous impositors. Es va dir que va arribar a recaptar 22 milions de rals i el reconegut escriptor [[Juan Eduardo Zuniga]] xifra els afectats en 5.000. La seva fama va transcendir fronteres com ho demostren periodics de llavors com [[Le Figaro]] de Paris i [[L'Independance Belge]] de [[Brussel*les]]. La fallida va sobrevenir al desembre de 1876 quan ella va desapareixer, amb tots els diners que va poder, encara que dos anys mes tard va ser detinguda a Franca i va ser condemnada a sis anys de preso el 26 de maig de 1879.&lt;ref>[http://www.elpais.com/articulo/economia/arte/estafa/elpepueco/20090321elpepueco_1/Tes Baldomera Larra creadora del fraude piramidal en los anos setenta del siglo XIX]&lt;/ref>\n* Entre 1970 i 1984 en [[Portugal]], una dona coneguda com a Dona Branca va mantenir un esquema que pagava el 10% mensual d'interes. En 1988 va ser sentenciada a 10 anys de preso. Ella sempre va declarar que nomes tractava d'ajudar als pobres, pero en el seu intent es va demostrar que ella havia rebut l'equivalent a 85 milions d'[[euro]]s.&lt;ref>[http://www.visaoonline.pt/ Visao], Apanhados pelos selos, 18 de maig 2006&lt;/ref>&lt;ref>[http://www.canalsur.es CanalSurWeb], Banqueros del pueblo, 12 de maig 2006&lt;/ref>\n* Al gener de 1984 Adriaan Nieuwoudt va iniciar un esquema amb un aparent producte a [[Sud-africa]]. Als subscriptors del pla se'ls enviava un \"activador\", usat per conrear en llet una substancia, que al seu torn era retornada a la Kubus Kwekery amb un 30% de benefici sobre els diners pagats per l'activador. El Tribunal Suprem del Cap va determinar que l'esquema Kubus era una loteria il*legal.&lt;ref>[http://www.legalcity.net/Index.cfm?fuseaction=RIGHTS.article&amp;Index=S&amp;ArticleID=5235121&amp;Page=1 Legal City], Scams and other money-making schemes.&lt;/ref>\n* Al [[Peru]] durant la decada dels vuitanta, una financera informal denominada \"Centre Llatinoamerica d'Assessoria Empresarial\" (CLAE) dirigida per Carlos Manrique Carreno pagava entre 80 i 100% anuals als seus estalviadors, arribant a manejar fins a 360 milions de dolars provinents d'unes 160 mil persones. En 1993 CLAE es intervinguda i posteriorment dissolta per no poder acreditar les seves suposades inversions, ni mostrar llibres comptables. Manrique va fugir als [[Estats Units]] on fou capturat i extradit al Peru, on va ser empresonat fins a 2001.&lt;ref>[https://www.asfi.gob.bo/Portals/0/Documentos/EstafasPiramidales.pdf Estafas Piramidales - Lecciones aprendidas]&lt;/ref>\n* Mil sis-cents inversors en la companyia Diamond Mortgage i A.J. Obie, dues empreses amb els mateixos administradors, van perdre aproximadament 50 milions de dolars en el que la cort d'apel*lacions de Michigan va descriure com \"L'esquema 'Ponzi' mes gran reportat en la historia de l'estat.\"&lt;ref>People v. Greenberg,\"176 Mich App 296, 299; 439 NW2nd 336(1989) cited in U.S. Supreme Court, 05-1342, Watters vs Wachovia Bank, page 6. At [http://www.abanet.org/publiced/preview/briefs/pdfs/06-07/05-1342_Petitioner.pdf] American Bar Association site ABAnet.com, Retrieved [[29 d'agost]], [[2007]]&lt;/ref>&lt;ref>[http://www.kttlaw.com/images/news/keyfetz_home_ownership_equity_protection.pdf] Keyfetz, Lisa, \"The home ownership and equity protection act of 1994: extending liability for predatory subprime loans to secondary mortgage market participants.\" Loyola Consumer Law Review, Vol 18:2, pages 165-166&lt;/ref>\n* Des de 2003 s'ha estes per gran part d'Europa (primer a Austria, Suissa i Franca; mes recentment a Romania, Irlanda, Polonia i Espanya) un \"club de compra\" anomenat \"Lyoness\", que promet beneficis immediats per comprar en les empreses associades, i grans beneficis a llarg termini amb una inversio previa. Encara que l'empresa ha rebut denuncies que li atribueixen l'us de l'esquema Ponzi com a mitja d'estafa, aixo mai ha pogut ser provat, ja que la principal aportacio de beneficis ve de les compres dels afiliats de consum, i no de la inversio dels afiliats de negoci. Una denuncia per publicitat enganyosa a Austria, al marc de 2012, es va resoldre a favor dels denunciants, encara que va ser recorreguda per Lyoness.&lt;ref>[http://www.ots.at/presseaussendung/OTE_20120313_OTE0010/the-first-court-decision-against-lyoness/  Informacion de la sentencia contra Lyoness por publicidad enganosa en Austria]&lt;/ref>\n* [[D.M.G. Grupo Holding S.A.]] va ser una empresa colombiana que va estafar gran quantitat de persones sota aquest esquema.\n* Al marc de 2012, Allen Stanford va ser declarat culpable per un tribunal de Houston, Texas, de defraudar 30.000 inversors a traves del seu Stanford International Bank, amb seu a [[Antigua]], per valor de set mil milions de dolars.&lt;ref> [http://www.bbc.co.uk/news/world-us-canada-17274724 <<Allen Stanford found guilty in $7bn Ponzi scheme>>] [[BBC]] {{en}} &lt;/ref>\n* [[Publifast]] a l'Equador mes de 500 persones denuncien haver estat estafades per Publifast, una empresa de publicitat per Internet. Els clients pagaven perque les seves marques fossin promocionades a traves de les xarxes socials.\n\n== Referencies ==\n{{Referencies|2}}\n\n== Vegeu tambe ==\n* [[Frau piramidal]]\n\n== Lectures ==\n*{{ref-llibre|titol= The Ponzi Scheme Puzzle: A History and Analysis of Con Artists and Victims |cognom=Frankel |nom=Tamar |any=2012 |editorial=Oxford University Press |lloc=USA |isbn= 0199926611}}\n*{{ref-llibre|titol=Ponzi: The Incredible True Story of the King of Financial Cons (Library of Larceny) (Paperback) |cognom=Dunn |nom=Donald |any=2004 |editorial=Broadway |lloc=New York |isbn=0-7679-1499-6}}\n*{{ref-llibre|titol=Ponzi's Scheme: The True Story of a Financial Legend |cognom=Zuckoff |nom=Mitchell  |any=2005 |editorial=Random House |lloc=New York |isbn=1-4000-6039-7}}\n{{refend}}\n* Leila Schneps i Coralie Colmez, ''Math on trial. How numbers get used and abused in the courtroom'', Basic Books, 2013. ISBN 978-0-465-03292-1. (Eighth chapter: \"Math error number 8: underestimation. The case of Charles Ponzi: American dream, American scheme\").\n* [http://mpra.ub.uni-muenchen.de/14420/1/ponziMSS.pdf \"The Mathematics of Ponzi schemes\"], Artzrouni, April 2009\n\n== Enllacos externs ==\n{{commonscat|Esquema Ponzi}}\n* [http://www.sec.gov/answers/ponzi.htm FAQ Esquemes Ponzi] Informacio i assessorament de la Comissio de Valors dels EUA.\n* [http://www.cftc.gov/ConsumerProtection/FraudAwarenessPrevention/index.htm Coneixement del Frau i Prevencio] Informacio sobre la deteccio de frau al US Commodities Futures Trading Commission\n* [http://bookstore.gpo.gov/marketplace/39527 Ponzimonium] e-book lliure sobre esquemes Ponzi per la US Commodity Futures Trading Commission\n\n[[Categoria:Frau]]\n<img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img 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src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\">[[Fitxer:Charles Ponzi.jpg|thumb|300px|Foto de 1920 de [[Carlo Ponzi]] quan encara treballava com en negocis a la seva oficina de Boston]]\nL''''esquema Ponzi''' es una [[estafa|operacio fraudulenta]] d'[[inversio economica]] en la qual l'operador, individu o organitzacio, paga [[interes|interessos]] als inversors amb els seus propis diners invertits o dels diners de nous inversors en lloc de fer-ho amb el benefici obtingut per l'operador. Els operadors dels esquemes Ponzi generalment atrauen nous inversors en oferir un major rendiment que les altres inversions, en forma de beneficis a curt termini que son o be anormalment alts o inconsistents.\n\nEls esquemes de Ponzi sovint comencen com a negocis legitims, fins que el negoci no aconsegueix assolir els rendiments esperats. El negoci es converteix en un esquema Ponzi si continua en condicions fraudulentes. Qualsevol que sigui la situacio inicial, la perpetuacio de l'alta rendibilitat requereix un flux creixent de diners de nous inversors per mantenir l'esquema.&lt;ref name=\"ponzi\">{{ref-web|titol=Ponzi Schemes - Frequently Asked Questions|url=http://www.sec.gov/answers/ponzi.htm|obra=U.S Securities and Exchange Commission|editor=U.S Securities and Exchange Commission|consulta= 23 juny 2012}}&lt;/ref>\n\nL'esquema rep el nom per [[Charles Ponzi]],&lt;ref>{{ref-web|url=http://web.archive.org/web/20041001-20051231re_/http://www.ssa.gov/history/ponzi.html |titol=Ponzi Schemes |editor=US Social Security Administration |consulta=24 desembre 2008 }}&lt;/ref> qui es va fer famos per l'us de la tecnica en 1920.&lt;ref>{{citar ref|cognom=Peck |nom=Sarah |any=2010 |titol=Investment Ethics |editorial=John Wiley and Sons | isbn=978-0-470-43453-6 | url=http://books.google.com/books?id=EiIMJ83qRCIC&amp;pg=PA5 |pagina=5 }}&lt;/ref> La idea, present a novel*les (per exemple, la novel*la de [[Charles Dickens]] ''[[Martin Chuzzlewit]]'' de 1844 i ''[[Little Dorrit]]'' de 1857 mostren cadascuna un esquema similar),&lt;ref>{{citar ref|cognom1=Markopolos |nom1=Harry |any=2010 |titol=No One Would Listen: A True Financial Thriller |cognom2=Casey |nom2=Frank |editorial=John Wiley and Sons | isbn=978-0-470-55373-2 | url=http://books.google.com/books?id=7NeZeQ6qHq4C&amp;pg=PA50 |pagina=50 }}&lt;/ref>  va ser realment dut a terme en la vida real per Ponzi qui amb la seva operacio va obtenir tants diners que va ser el primer a donar-se a coneixer als Estats Units. L'esquema original de Ponzi es va basar en l'[[arbitratge]] de [[segell de resposta internacional|segells de resposta internacional]] per als segells postals; tanmateix, aviat va desviar diners dels inversors per realitzar pagaments als inversors anteriors i a ell mateix.&lt;ref name=\"ponzi\"/>\n== Caracteristiques ==\n[[Fitxer:Celula.gif|thumb|350px|Cel*lula Estafa]]\nEn general, es prometen rendiments extraordinaris en la inversio original&lt;ref>{{ref-web|titol=What is a Ponzi scheme?|url=http://www.mijiki.com/what-is-a-ponzi-scheme.html|obra=Mijiki|editor=Mijiki.com|consulta= 23 juny 2012}}&lt;/ref> i l'us de construccions verbals vagues tals com \"[[cobertura (finances)|cobertura]] de [[Futur (finances)|comerc de futurs]]\", \"[[Programa d'inversio d'alt rendiment|programes d'inversio d'alt rendiment]]\", o \"[[inversions a l'estranger]]\". El promotor ven accions als inversors mitjancant l'aprofitament d'una falta de competencia o coneixement dels inversors, o afirmant la propietat d'una estrategia d'inversio que s'ha de mantenir en secret per assegurar un avantatge competitiu.\n\nEls esquemes de Ponzi de vegades comencen operacions com a vehicles d'inversio legitims, com [[fons d'inversio lliure]]. Per exemple, un fons d'inversio lliure pot degenerar en un esquema Ponzi si perd diners inesperadament (o simplement no aconsegueix guanyar legitimament els retorns promesos i/o esperats) ''i si'' els promotors, en lloc d'admetre el seu fracas de complir amb les expectatives, fabriquen falsos retorns i (si cal) produeixen informes d'auditoria fraudulents.\n\nUna amplia varietat de vehicles d'inversio o estrategies, normalment legitims, s'han convertit en la base dels esquemes de Ponzi. Per exemple, [[Allen Stanford]] usava diposits o certificats bancaris per defraudar desenes de milers de persones. Els certificats de diposit son generalment instruments de baix risc i assegurats, pero els CDs de Stanford eren fraudulents.&lt;ref>{{citar ref|cognom=Kurdas |nom=Chidem |any=2012 |titol=Political Sticky Wicket: The Untouchable Ponzi Scheme of Allen Stanford | url=http://www.amazon.com/Political-Sticky-Wicket-Untouchable-Stanford/dp/1479257583/ref=sr_1_2?s=books&amp;ie=UTF8&amp;qid=1348001922&amp;sr=1-2}}&lt;/ref>\n\nInicialment, el promotor pagara una alta rendibilitat per a atraure mes inversors, i per atraure els inversors actuals a posar mes diners. D'altres inversors comencen a participar, donant lloc a un efecte de cascada. El \"retorn\" als inversors inicials es paga a carrec de les inversions dels nous operadors, i no dels guanys.\n\nSovint, l'alta rendibilitat anima als inversors a deixar els seus diners en l'esquema, amb el resultat que el promotor no ha de pagar gaire als inversors; ell simplement ha d'enviar informes mostrant tot el que han guanyat. Aixo mante l'engany que l'esquema es una inversio amb alta rendibilitat.\n \nEls promotors tambe tracten de minimitzar les sortides oferint nous plans als inversors, sovint on els diners estan congelats per un periode mes llarg, a canvi d'una major rendibilitat. El promotor veu nous fluxos d'efectiu, ja que als inversors se'ls diu que no poden transferir els diners des del primer pla cap al segon. Si uns pocs inversors volen retirar els seus diners d'acord amb els termes permesos, les seves sol*licituds es processen en general amb promptitud, el que dona la il*lusio a tots els altres inversors que el fons es [[Insolvencia|solvent]]. \n  \n== Desenredant un esquema Ponzi ==\nQuan un esquema Ponzi no es detingut per les autoritats, tard o d'hora cau a trossos per una de les seguents raons:&lt;ref name=\"ponzi\" /> \n# El promotor s'esvaeix, emportant-se tots els diners restants de la inversio (que exclou els pagaments ja fets als inversors).  \n# Des que l'esquema requereix un flux continu d'inversions per financar una major rendibilitat, una vegada que la inversio es desaccelera, l'esquema s'esfondra quan el promotor comenca a tenir problemes per pagar els beneficis promesos (quan els rendiments son mes alts, mes gran es el risc que l'esquema Ponzi es col*lapsi). Aquesta [[crisi de liquiditat]] sovint desencadena panics, a mesura que mes gent comenca a preguntar pels seus diners, similar a un [[Panic bancari]].\n# Forces del mercat extern, com una forta disminucio de l'economia (per exemple, l'[[escandol inversor de Madoff]] durant la [[Crisi financera global del 2007-2012|caiguda del mercat de 2008]]), que provoquen que molts inversors retiressin tot o part dels seus fons.\n== Exemples notables de l'esquema ==\nL'esquema eponim va ser orquestrat per [[Carlo Ponzi]], qui en 1920 va passar de l'anonimat a ser un notable milionari de [[Boston]] en sis mesos valent-se d'aquesta trama.\nSe suposava que els ingressos provenien de l'intercanvi de [[segell de resposta internacional|segells de resposta internacional]]. El prometia tornar el 50% d'interes en inversions de 45 dies o ''duplica els teus diners'' en 90 dies. Al voltant de 40.000 persones van invertir prop de 15 milions de dolars en total; al final, nomes un terc d'aquests diners els va ser tornat.\nA mes de la trama Ponzi hi ha hagut altres trames historiques similars:\n* Abans que Ponzi, en 1899 [[William Miller|William \"520 Per cent\" Miller]] va obrir la seva empresa com a \"Unio Franklin\" a [[Brooklyn]], [[Nova York]]. Miller prometia el 10% d'interes setmanal i va treure profit de les principals caracteristiques dels plans Ponzi tals com la reinversio dels beneficis dels clients. Va estafar als compradors en prop d'1 milio de dolars i va ser sentenciat a 10 anys de preso. Despres de ser perdonat, va obrir una tenda a Long Island. Durant la recerca Ponzi, Miller va ser entrevistat pel ''Boston Post'' per comparar el seu esquema amb el de Ponzi; l'entrevistador les va trobar notablement similars, pero la de Ponzi es va tornar mes famosa per guanyar set vegades mes diners.&lt;ref name=\"zuckoff\">Zuckoff, Mitchell. ''Ponzi's Scheme: The True Story of a Financial Legend.'' Random House: New York, 2005. (ISBN 1-4000-6039-7)&lt;/ref>\n* A Espanya, el primer frau piramidal del qual es te noticia s'atribueix a [[Baldomera Larra Wetoret]] filla de l'escriptor espanyol [[Mariano Jose de Larra]], cap als anys setanta del segle XIX va iniciar les seves operacions prometent a qui li deixava una unca d'or que en un mes la retornaria duplicada. Operava a la vista de tots pagant un 30% mensual, amb els diners que li donaven els nous impositors. Es va dir que va arribar a recaptar 22 milions de rals i el reconegut escriptor [[Juan Eduardo Zuniga]] xifra els afectats en 5.000. La seva fama va transcendir fronteres com ho demostren periodics de llavors com [[Le Figaro]] de Paris i [[L'Independance Belge]] de [[Brussel*les]]. La fallida va sobrevenir al desembre de 1876 quan ella va desapareixer, amb tots els diners que va poder, encara que dos anys mes tard va ser detinguda a Franca i va ser condemnada a sis anys de preso el 26 de maig de 1879.&lt;ref>[http://www.elpais.com/articulo/economia/arte/estafa/elpepueco/20090321elpepueco_1/Tes Baldomera Larra creadora del fraude piramidal en los anos setenta del siglo XIX]&lt;/ref>\n* Entre 1970 i 1984 en [[Portugal]], una dona coneguda com a Dona Branca va mantenir un esquema que pagava el 10% mensual d'interes. En 1988 va ser sentenciada a 10 anys de preso. Ella sempre va declarar que nomes tractava d'ajudar als pobres, pero en el seu intent es va demostrar que ella havia rebut l'equivalent a 85 milions d'[[euro]]s.&lt;ref>[http://www.visaoonline.pt/ Visao], Apanhados pelos selos, 18 de maig 2006&lt;/ref>&lt;ref>[http://www.canalsur.es CanalSurWeb], Banqueros del pueblo, 12 de maig 2006&lt;/ref>\n* Al gener de 1984 Adriaan Nieuwoudt va iniciar un esquema amb un aparent producte a [[Sud-africa]]. Als subscriptors del pla se'ls enviava un \"activador\", usat per conrear en llet una substancia, que al seu torn era retornada a la Kubus Kwekery amb un 30% de benefici sobre els diners pagats per l'activador. El Tribunal Suprem del Cap va determinar que l'esquema Kubus era una loteria il*legal.&lt;ref>[http://www.legalcity.net/Index.cfm?fuseaction=RIGHTS.article&amp;Index=S&amp;ArticleID=5235121&amp;Page=1 Legal City], Scams and other money-making schemes.&lt;/ref>\n* Al [[Peru]] durant la decada dels vuitanta, una financera informal denominada \"Centre Llatinoamerica d'Assessoria Empresarial\" (CLAE) dirigida per Carlos Manrique Carreno pagava entre 80 i 100% anuals als seus estalviadors, arribant a manejar fins a 360 milions de dolars provinents d'unes 160 mil persones. En 1993 CLAE es intervinguda i posteriorment dissolta per no poder acreditar les seves suposades inversions, ni mostrar llibres comptables. Manrique va fugir als [[Estats Units]] on fou capturat i extradit al Peru, on va ser empresonat fins a 2001.&lt;ref>[https://www.asfi.gob.bo/Portals/0/Documentos/EstafasPiramidales.pdf Estafas Piramidales - Lecciones aprendidas]&lt;/ref>\n* Mil sis-cents inversors en la companyia Diamond Mortgage i A.J. Obie, dues empreses amb els mateixos administradors, van perdre aproximadament 50 milions de dolars en el que la cort d'apel*lacions de Michigan va descriure com \"L'esquema 'Ponzi' mes gran reportat en la historia de l'estat.\"&lt;ref>People v. Greenberg,\"176 Mich App 296, 299; 439 NW2nd 336(1989) cited in U.S. Supreme Court, 05-1342, Watters vs Wachovia Bank, page 6. At [http://www.abanet.org/publiced/preview/briefs/pdfs/06-07/05-1342_Petitioner.pdf] American Bar Association site ABAnet.com, Retrieved [[29 d'agost]], [[2007]]&lt;/ref>&lt;ref>[http://www.kttlaw.com/images/news/keyfetz_home_ownership_equity_protection.pdf] Keyfetz, Lisa, \"The home ownership and equity protection act of 1994: extending liability for predatory subprime loans to secondary mortgage market participants.\" Loyola Consumer Law Review, Vol 18:2, pages 165-166&lt;/ref>\n* Des de 2003 s'ha estes per gran part d'Europa (primer a Austria, Suissa i Franca; mes recentment a Romania, Irlanda, Polonia i Espanya) un \"club de compra\" anomenat \"Lyoness\", que promet beneficis immediats per comprar en les empreses associades, i grans beneficis a llarg termini amb una inversio previa. Encara que l'empresa ha rebut denuncies que li atribueixen l'us de l'esquema Ponzi com a mitja d'estafa, aixo mai ha pogut ser provat, ja que la principal aportacio de beneficis ve de les compres dels afiliats de consum, i no de la inversio dels afiliats de negoci. Una denuncia per publicitat enganyosa a Austria, al marc de 2012, es va resoldre a favor dels denunciants, encara que va ser recorreguda per Lyoness.&lt;ref>[http://www.ots.at/presseaussendung/OTE_20120313_OTE0010/the-first-court-decision-against-lyoness/  Informacion de la sentencia contra Lyoness por publicidad enganosa en Austria]&lt;/ref>\n* [[D.M.G. Grupo Holding S.A.]] va ser una empresa colombiana que va estafar gran quantitat de persones sota aquest esquema.\n* Al marc de 2012, Allen Stanford va ser declarat culpable per un tribunal de Houston, Texas, de defraudar 30.000 inversors a traves del seu Stanford International Bank, amb seu a [[Antigua]], per valor de set mil milions de dolars.&lt;ref> [http://www.bbc.co.uk/news/world-us-canada-17274724 <<Allen Stanford found guilty in $7bn Ponzi scheme>>] [[BBC]] {{en}} &lt;/ref>\n* [[Publifast]] a l'Equador mes de 500 persones denuncien haver estat estafades per Publifast, una empresa de publicitat per Internet. Els clients pagaven perque les seves marques fossin promocionades a traves de les xarxes socials.\n\n== Referencies ==\n{{Referencies|2}}\n\n== Vegeu tambe ==\n* [[Frau piramidal]]\n\n== Lectures ==\n*{{ref-llibre|titol= The Ponzi Scheme Puzzle: A History and Analysis of Con Artists and Victims |cognom=Frankel |nom=Tamar |any=2012 |editorial=Oxford University Press |lloc=USA |isbn= 0199926611}}\n*{{ref-llibre|titol=Ponzi: The Incredible True Story of the King of Financial Cons (Library of Larceny) (Paperback) |cognom=Dunn |nom=Donald |any=2004 |editorial=Broadway |lloc=New York |isbn=0-7679-1499-6}}\n*{{ref-llibre|titol=Ponzi's Scheme: The True Story of a Financial Legend |cognom=Zuckoff |nom=Mitchell  |any=2005 |editorial=Random House |lloc=New York |isbn=1-4000-6039-7}}\n{{refend}}\n* Leila Schneps i Coralie Colmez, ''Math on trial. How numbers get used and abused in the courtroom'', Basic Books, 2013. ISBN 978-0-465-03292-1. (Eighth chapter: \"Math error number 8: underestimation. The case of Charles Ponzi: American dream, American scheme\").\n* [http://mpra.ub.uni-muenchen.de/14420/1/ponziMSS.pdf \"The Mathematics of Ponzi schemes\"], Artzrouni, April 2009\n\n== Enllacos externs ==\n{{commonscat|Esquema Ponzi}}\n* [http://www.sec.gov/answers/ponzi.htm FAQ Esquemes Ponzi] Informacio i assessorament de la Comissio de Valors dels EUA.\n* [http://www.cftc.gov/ConsumerProtection/FraudAwarenessPrevention/index.htm Coneixement del Frau i Prevencio] Informacio sobre la deteccio de frau al US Commodities Futures Trading Commission\n* [http://bookstore.gpo.gov/marketplace/39527 Ponzimonium] e-book lliure sobre esquemes Ponzi per la US Commodity Futures Trading Commission\n\n[[Categoria:Frau]]\n<img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img 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src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69493534.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495024.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494825.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494859.jpg\">[[Fitxer:Charles Ponzi.jpg|thumb|300px|Foto de 1920 de [[Carlo Ponzi]] quan encara treballava com en negocis a la seva oficina de Boston]]\nL''''esquema Ponzi''' es una [[estafa|operacio fraudulenta]] d'[[inversio economica]] en la qual l'operador, individu o organitzacio, paga [[interes|interessos]] als inversors amb els seus propis diners invertits o dels diners de nous inversors en lloc de fer-ho amb el benefici obtingut per l'operador. Els operadors dels esquemes Ponzi generalment atrauen nous inversors en oferir un major rendiment que les altres inversions, en forma de beneficis a curt termini que son o be anormalment alts o inconsistents.\n\nEls esquemes de Ponzi sovint comencen com a negocis legitims, fins que el negoci no aconsegueix assolir els rendiments esperats. El negoci es converteix en un esquema Ponzi si continua en condicions fraudulentes. Qualsevol que sigui la situacio inicial, la perpetuacio de l'alta rendibilitat requereix un flux creixent de diners de nous inversors per mantenir l'esquema.&lt;ref name=\"ponzi\">{{ref-web|titol=Ponzi Schemes - Frequently Asked Questions|url=http://www.sec.gov/answers/ponzi.htm|obra=U.S Securities and Exchange Commission|editor=U.S Securities and Exchange Commission|consulta= 23 juny 2012}}&lt;/ref>\n\nL'esquema rep el nom per [[Charles Ponzi]],&lt;ref>{{ref-web|url=http://web.archive.org/web/20041001-20051231re_/http://www.ssa.gov/history/ponzi.html |titol=Ponzi Schemes |editor=US Social Security Administration |consulta=24 desembre 2008 }}&lt;/ref> qui es va fer famos per l'us de la tecnica en 1920.&lt;ref>{{citar ref|cognom=Peck |nom=Sarah |any=2010 |titol=Investment Ethics |editorial=John Wiley and Sons | isbn=978-0-470-43453-6 | url=http://books.google.com/books?id=EiIMJ83qRCIC&amp;pg=PA5 |pagina=5 }}&lt;/ref> La idea, present a novel*les (per exemple, la novel*la de [[Charles Dickens]] ''[[Martin Chuzzlewit]]'' de 1844 i ''[[Little Dorrit]]'' de 1857 mostren cadascuna un esquema similar),&lt;ref>{{citar ref|cognom1=Markopolos |nom1=Harry |any=2010 |titol=No One Would Listen: A True Financial Thriller |cognom2=Casey |nom2=Frank |editorial=John Wiley and Sons | isbn=978-0-470-55373-2 | url=http://books.google.com/books?id=7NeZeQ6qHq4C&amp;pg=PA50 |pagina=50 }}&lt;/ref>  va ser realment dut a terme en la vida real per Ponzi qui amb la seva operacio va obtenir tants diners que va ser el primer a donar-se a coneixer als Estats Units. L'esquema original de Ponzi es va basar en l'[[arbitratge]] de [[segell de resposta internacional|segells de resposta internacional]] per als segells postals; tanmateix, aviat va desviar diners dels inversors per realitzar pagaments als inversors anteriors i a ell mateix.&lt;ref name=\"ponzi\"/>\n== Caracteristiques ==\n[[Fitxer:Celula.gif|thumb|350px|Cel*lula Estafa]]\nEn general, es prometen rendiments extraordinaris en la inversio original&lt;ref>{{ref-web|titol=What is a Ponzi scheme?|url=http://www.mijiki.com/what-is-a-ponzi-scheme.html|obra=Mijiki|editor=Mijiki.com|consulta= 23 juny 2012}}&lt;/ref> i l'us de construccions verbals vagues tals com \"[[cobertura (finances)|cobertura]] de [[Futur (finances)|comerc de futurs]]\", \"[[Programa d'inversio d'alt rendiment|programes d'inversio d'alt rendiment]]\", o \"[[inversions a l'estranger]]\". El promotor ven accions als inversors mitjancant l'aprofitament d'una falta de competencia o coneixement dels inversors, o afirmant la propietat d'una estrategia d'inversio que s'ha de mantenir en secret per assegurar un avantatge competitiu.\n\nEls esquemes de Ponzi de vegades comencen operacions com a vehicles d'inversio legitims, com [[fons d'inversio lliure]]. Per exemple, un fons d'inversio lliure pot degenerar en un esquema Ponzi si perd diners inesperadament (o simplement no aconsegueix guanyar legitimament els retorns promesos i/o esperats) ''i si'' els promotors, en lloc d'admetre el seu fracas de complir amb les expectatives, fabriquen falsos retorns i (si cal) produeixen informes d'auditoria fraudulents.\n\nUna amplia varietat de vehicles d'inversio o estrategies, normalment legitims, s'han convertit en la base dels esquemes de Ponzi. Per exemple, [[Allen Stanford]] usava diposits o certificats bancaris per defraudar desenes de milers de persones. Els certificats de diposit son generalment instruments de baix risc i assegurats, pero els CDs de Stanford eren fraudulents.&lt;ref>{{citar ref|cognom=Kurdas |nom=Chidem |any=2012 |titol=Political Sticky Wicket: The Untouchable Ponzi Scheme of Allen Stanford | url=http://www.amazon.com/Political-Sticky-Wicket-Untouchable-Stanford/dp/1479257583/ref=sr_1_2?s=books&amp;ie=UTF8&amp;qid=1348001922&amp;sr=1-2}}&lt;/ref>\n\nInicialment, el promotor pagara una alta rendibilitat per a atraure mes inversors, i per atraure els inversors actuals a posar mes diners. D'altres inversors comencen a participar, donant lloc a un efecte de cascada. El \"retorn\" als inversors inicials es paga a carrec de les inversions dels nous operadors, i no dels guanys.\n\nSovint, l'alta rendibilitat anima als inversors a deixar els seus diners en l'esquema, amb el resultat que el promotor no ha de pagar gaire als inversors; ell simplement ha d'enviar informes mostrant tot el que han guanyat. Aixo mante l'engany que l'esquema es una inversio amb alta rendibilitat.\n \nEls promotors tambe tracten de minimitzar les sortides oferint nous plans als inversors, sovint on els diners estan congelats per un periode mes llarg, a canvi d'una major rendibilitat. El promotor veu nous fluxos d'efectiu, ja que als inversors se'ls diu que no poden transferir els diners des del primer pla cap al segon. Si uns pocs inversors volen retirar els seus diners d'acord amb els termes permesos, les seves sol*licituds es processen en general amb promptitud, el que dona la il*lusio a tots els altres inversors que el fons es [[Insolvencia|solvent]]. \n  \n== Desenredant un esquema Ponzi ==\nQuan un esquema Ponzi no es detingut per les autoritats, tard o d'hora cau a trossos per una de les seguents raons:&lt;ref name=\"ponzi\" /> \n# El promotor s'esvaeix, emportant-se tots els diners restants de la inversio (que exclou els pagaments ja fets als inversors).  \n# Des que l'esquema requereix un flux continu d'inversions per financar una major rendibilitat, una vegada que la inversio es desaccelera, l'esquema s'esfondra quan el promotor comenca a tenir problemes per pagar els beneficis promesos (quan els rendiments son mes alts, mes gran es el risc que l'esquema Ponzi es col*lapsi). Aquesta [[crisi de liquiditat]] sovint desencadena panics, a mesura que mes gent comenca a preguntar pels seus diners, similar a un [[Panic bancari]].\n# Forces del mercat extern, com una forta disminucio de l'economia (per exemple, l'[[escandol inversor de Madoff]] durant la [[Crisi financera global del 2007-2012|caiguda del mercat de 2008]]), que provoquen que molts inversors retiressin tot o part dels seus fons.\n== Exemples notables de l'esquema ==\nL'esquema eponim va ser orquestrat per [[Carlo Ponzi]], qui en 1920 va passar de l'anonimat a ser un notable milionari de [[Boston]] en sis mesos valent-se d'aquesta trama.\nSe suposava que els ingressos provenien de l'intercanvi de [[segell de resposta internacional|segells de resposta internacional]]. El prometia tornar el 50% d'interes en inversions de 45 dies o ''duplica els teus diners'' en 90 dies. Al voltant de 40.000 persones van invertir prop de 15 milions de dolars en total; al final, nomes un terc d'aquests diners els va ser tornat.\nA mes de la trama Ponzi hi ha hagut altres trames historiques similars:\n* Abans que Ponzi, en 1899 [[William Miller|William \"520 Per cent\" Miller]] va obrir la seva empresa com a \"Unio Franklin\" a [[Brooklyn]], [[Nova York]]. Miller prometia el 10% d'interes setmanal i va treure profit de les principals caracteristiques dels plans Ponzi tals com la reinversio dels beneficis dels clients. Va estafar als compradors en prop d'1 milio de dolars i va ser sentenciat a 10 anys de preso. Despres de ser perdonat, va obrir una tenda a Long Island. Durant la recerca Ponzi, Miller va ser entrevistat pel ''Boston Post'' per comparar el seu esquema amb el de Ponzi; l'entrevistador les va trobar notablement similars, pero la de Ponzi es va tornar mes famosa per guanyar set vegades mes diners.&lt;ref name=\"zuckoff\">Zuckoff, Mitchell. ''Ponzi's Scheme: The True Story of a Financial Legend.'' Random House: New York, 2005. (ISBN 1-4000-6039-7)&lt;/ref>\n* A Espanya, el primer frau piramidal del qual es te noticia s'atribueix a [[Baldomera Larra Wetoret]] filla de l'escriptor espanyol [[Mariano Jose de Larra]], cap als anys setanta del segle XIX va iniciar les seves operacions prometent a qui li deixava una unca d'or que en un mes la retornaria duplicada. Operava a la vista de tots pagant un 30% mensual, amb els diners que li donaven els nous impositors. Es va dir que va arribar a recaptar 22 milions de rals i el reconegut escriptor [[Juan Eduardo Zuniga]] xifra els afectats en 5.000. La seva fama va transcendir fronteres com ho demostren periodics de llavors com [[Le Figaro]] de Paris i [[L'Independance Belge]] de [[Brussel*les]]. La fallida va sobrevenir al desembre de 1876 quan ella va desapareixer, amb tots els diners que va poder, encara que dos anys mes tard va ser detinguda a Franca i va ser condemnada a sis anys de preso el 26 de maig de 1879.&lt;ref>[http://www.elpais.com/articulo/economia/arte/estafa/elpepueco/20090321elpepueco_1/Tes Baldomera Larra creadora del fraude piramidal en los anos setenta del siglo XIX]&lt;/ref>\n* Entre 1970 i 1984 en [[Portugal]], una dona coneguda com a Dona Branca va mantenir un esquema que pagava el 10% mensual d'interes. En 1988 va ser sentenciada a 10 anys de preso. Ella sempre va declarar que nomes tractava d'ajudar als pobres, pero en el seu intent es va demostrar que ella havia rebut l'equivalent a 85 milions d'[[euro]]s.&lt;ref>[http://www.visaoonline.pt/ Visao], Apanhados pelos selos, 18 de maig 2006&lt;/ref>&lt;ref>[http://www.canalsur.es CanalSurWeb], Banqueros del pueblo, 12 de maig 2006&lt;/ref>\n* Al gener de 1984 Adriaan Nieuwoudt va iniciar un esquema amb un aparent producte a [[Sud-africa]]. Als subscriptors del pla se'ls enviava un \"activador\", usat per conrear en llet una substancia, que al seu torn era retornada a la Kubus Kwekery amb un 30% de benefici sobre els diners pagats per l'activador. El Tribunal Suprem del Cap va determinar que l'esquema Kubus era una loteria il*legal.&lt;ref>[http://www.legalcity.net/Index.cfm?fuseaction=RIGHTS.article&amp;Index=S&amp;ArticleID=5235121&amp;Page=1 Legal City], Scams and other money-making schemes.&lt;/ref>\n* Al [[Peru]] durant la decada dels vuitanta, una financera informal denominada \"Centre Llatinoamerica d'Assessoria Empresarial\" (CLAE) dirigida per Carlos Manrique Carreno pagava entre 80 i 100% anuals als seus estalviadors, arribant a manejar fins a 360 milions de dolars provinents d'unes 160 mil persones. En 1993 CLAE es intervinguda i posteriorment dissolta per no poder acreditar les seves suposades inversions, ni mostrar llibres comptables. Manrique va fugir als [[Estats Units]] on fou capturat i extradit al Peru, on va ser empresonat fins a 2001.&lt;ref>[https://www.asfi.gob.bo/Portals/0/Documentos/EstafasPiramidales.pdf Estafas Piramidales - Lecciones aprendidas]&lt;/ref>\n* Mil sis-cents inversors en la companyia Diamond Mortgage i A.J. Obie, dues empreses amb els mateixos administradors, van perdre aproximadament 50 milions de dolars en el que la cort d'apel*lacions de Michigan va descriure com \"L'esquema 'Ponzi' mes gran reportat en la historia de l'estat.\"&lt;ref>People v. Greenberg,\"176 Mich App 296, 299; 439 NW2nd 336(1989) cited in U.S. Supreme Court, 05-1342, Watters vs Wachovia Bank, page 6. At [http://www.abanet.org/publiced/preview/briefs/pdfs/06-07/05-1342_Petitioner.pdf] American Bar Association site ABAnet.com, Retrieved [[29 d'agost]], [[2007]]&lt;/ref>&lt;ref>[http://www.kttlaw.com/images/news/keyfetz_home_ownership_equity_protection.pdf] Keyfetz, Lisa, \"The home ownership and equity protection act of 1994: extending liability for predatory subprime loans to secondary mortgage market participants.\" Loyola Consumer Law Review, Vol 18:2, pages 165-166&lt;/ref>\n* Des de 2003 s'ha estes per gran part d'Europa (primer a Austria, Suissa i Franca; mes recentment a Romania, Irlanda, Polonia i Espanya) un \"club de compra\" anomenat \"Lyoness\", que promet beneficis immediats per comprar en les empreses associades, i grans beneficis a llarg termini amb una inversio previa. Encara que l'empresa ha rebut denuncies que li atribueixen l'us de l'esquema Ponzi com a mitja d'estafa, aixo mai ha pogut ser provat, ja que la principal aportacio de beneficis ve de les compres dels afiliats de consum, i no de la inversio dels afiliats de negoci. Una denuncia per publicitat enganyosa a Austria, al marc de 2012, es va resoldre a favor dels denunciants, encara que va ser recorreguda per Lyoness.&lt;ref>[http://www.ots.at/presseaussendung/OTE_20120313_OTE0010/the-first-court-decision-against-lyoness/  Informacion de la sentencia contra Lyoness por publicidad enganosa en Austria]&lt;/ref>\n* [[D.M.G. Grupo Holding S.A.]] va ser una empresa colombiana que va estafar gran quantitat de persones sota aquest esquema.\n* Al marc de 2012, Allen Stanford va ser declarat culpable per un tribunal de Houston, Texas, de defraudar 30.000 inversors a traves del seu Stanford International Bank, amb seu a [[Antigua]], per valor de set mil milions de dolars.&lt;ref> [http://www.bbc.co.uk/news/world-us-canada-17274724 <<Allen Stanford found guilty in $7bn Ponzi scheme>>] [[BBC]] {{en}} &lt;/ref>\n* [[Publifast]] a l'Equador mes de 500 persones denuncien haver estat estafades per Publifast, una empresa de publicitat per Internet. Els clients pagaven perque les seves marques fossin promocionades a traves de les xarxes socials.\n\n== Referencies ==\n{{Referencies|2}}\n\n== Vegeu tambe ==\n* [[Frau piramidal]]\n\n== Lectures ==\n*{{ref-llibre|titol= The Ponzi Scheme Puzzle: A History and Analysis of Con Artists and Victims |cognom=Frankel |nom=Tamar |any=2012 |editorial=Oxford University Press |lloc=USA |isbn= 0199926611}}\n*{{ref-llibre|titol=Ponzi: The Incredible True Story of the King of Financial Cons (Library of Larceny) (Paperback) |cognom=Dunn |nom=Donald |any=2004 |editorial=Broadway |lloc=New York |isbn=0-7679-1499-6}}\n*{{ref-llibre|titol=Ponzi's Scheme: The True Story of a Financial Legend |cognom=Zuckoff |nom=Mitchell  |any=2005 |editorial=Random House |lloc=New York |isbn=1-4000-6039-7}}\n{{refend}}\n* Leila Schneps i Coralie Colmez, ''Math on trial. How numbers get used and abused in the courtroom'', Basic Books, 2013. ISBN 978-0-465-03292-1. (Eighth chapter: \"Math error number 8: underestimation. The case of Charles Ponzi: American dream, American scheme\").\n* [http://mpra.ub.uni-muenchen.de/14420/1/ponziMSS.pdf \"The Mathematics of Ponzi schemes\"], Artzrouni, April 2009\n\n== Enllacos externs ==\n{{commonscat|Esquema Ponzi}}\n* [http://www.sec.gov/answers/ponzi.htm FAQ Esquemes Ponzi] Informacio i assessorament de la Comissio de Valors dels EUA.\n* [http://www.cftc.gov/ConsumerProtection/FraudAwarenessPrevention/index.htm Coneixement del Frau i Prevencio] Informacio sobre la deteccio de frau al US Commodities Futures Trading Commission\n* [http://bookstore.gpo.gov/marketplace/39527 Ponzimonium] e-book lliure sobre esquemes Ponzi per la US Commodity Futures Trading Commission\n\n[[Categoria:Frau]]\n<img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494885.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69494942.jpg\"><img src=\"https://cdn.meme.am/instances/500x/69495028.jpg\"><img 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