Investments in Ponzi Schemes Reaches Highest Level Since 2010 According to CNBC, 60 alleged Ponzi schemes were discovered in 2019.
Investments in them totaled $3.25 billion, the largest amount since 2010.
Ponzitracker adds that figure is more than twice the amount of 2018's invested ponzi scheme money.
Investment fraud attorney Andrew Stoltmann says current investors are lowering their defenses for a couple reasons.
One is the stock market's recently strong track record and another is federal deregulations.
He adds that it's not as bad as 2008, when 40 schemes were uncovered with $23 billion invested.
Stoltmann still warns that an "investor massacre" could be on the horizon.
Andrew Stoltmann, via CNBC Bernie Madoff's $65 billion ponzi scheme was also discovered in 2008, the biggest in history.