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Fraud Examination 5th Edition by Steve Albrecht,Chad Albrecht,Conan Albrecht, Mark Zimbelman
Edition 5ISBN: 978-1305079144Fraud Examination 5th Edition by Steve Albrecht,Chad Albrecht,Conan Albrecht, Mark Zimbelman
Edition 5ISBN: 978-1305079144 Exercise 2
Why was Charles Ponzi so successful with his fraud scheme
Explanation
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Verified
Reason for success of Charles Ponzi in his fraud scheme:
Charles Ponzi was extremely successful with his fraud scheme because he was able to gain confidence from his investors who were very greedy and too easy to be deceived or lured. During the initial stage Ponzi paid the returns of the original investments to the investors on time which helped him to be trusted upon and also to build a high level of confidence in him by his investors. As the investors were successfully convinced by him, they started to invest more amount of money in the process which helped him to grow his fraud scheme to greater heights.
Charles Ponzi was extremely successful with his fraud scheme because he was able to gain confidence from his investors who were very greedy and too easy to be deceived or lured. During the initial stage Ponzi paid the returns of the original investments to the investors on time which helped him to be trusted upon and also to build a high level of confidence in him by his investors. As the investors were successfully convinced by him, they started to invest more amount of money in the process which helped him to grow his fraud scheme to greater heights.
Fraud Examination 5th Edition by Steve Albrecht,Chad Albrecht,Conan Albrecht, Mark Zimbelman
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