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Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 275 / 352

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© D.L. Crumbley

Ponzi Scheme Example

Women Helping Women group hosted invitation – only “birthday parties” that promised $40,000 in the future to each woman who invested $5,000.

Some of the women received the pay-off, but most lost out.

$12 million pyramid schemes.

Cheryl Bean, the leader, given 3 years probation, ordered to pay $15,000 in restitution, and $10,000 to a charity fund.

Source: AP, “Pyramid Scheme Leader Pleads No Contest,” Las Vegas Sun, November 8, 2003.

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