According to an AP report over at Investmentnews.com, the number of busted ponzi schemes more than tripled in 2009, with more than 150 ponzi scheme collapsing in 2009, compared to about 40 in 2008. The financial meltdown certainly attributed to more scams falling apart. Perhaps the financial crisis also attributed to more investors falling for these scams, as they looked for alternative investments and were perhaps wooed into their investment by guarantees of safety and/or a guaranteed return on their investment.
Investors should do their homework before investing. Read this post for more information on ponzi schemes and how to help keep from becoming a victim.
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