PONZI SCHEMES PROLIFERATING


Federal and state authorities are reporting a growing number of financial scams that echo the alleged Madoff fraud, as strapped investors seek access to their cash amid increasingly hard times.

At least six suspected multimillion-dollar fraud cases have emerged this month alone, many of them alleged Ponzi schemes, in which investors are lured by promises of lofty returns but are actually paid off from new victims' funds. For the full Wall Street Journal story go to Allan's blog at www.zentrepreneurism.com