Ponzi Scheme—Butler Case: Scammed (Enhanced DVD)
Product Description:
Ponzi Scheme—Butler Case: Scammed (Enhanced DVD) Cheating people out of their life savings began decades ago. Ponzi once thought of as a scheme is really the name of the cheating creator. Charles Ponzi used his finesse and trustworthy personality to scam countless investors out of their life savings. In the video featuring the Butler case, Jeff Butler picks the perfect group to swindle. The elderly. In this episode Butler steals more than 12 million dollars from the elderly by making phony trusts and wills for his victims. This lets him gain access to their personal information.
To him he has the perfect audience a group of trusting seniors. With access to their personal information Butler sold annuities to seniors and put their money into his own company. Butler targeted a specific group that he believed would be dead before he got caught and had to pay them back. Butler conned over 120 retired seniors then took the income and put in his own company. Next he mailed all senior investors and told them their savings had been lost. One of the victims fights back and reaches out to the district attorney's office. This led to the DA questioning Butler regarding the senior investors.
In the end Butler's Ponzi scheme in a way was effective with most of his victims dying before the case went to trial. However, justice reigned with a conviction for Butler for 90 years in prison.
To him he has the perfect audience a group of trusting seniors. With access to their personal information Butler sold annuities to seniors and put their money into his own company. Butler targeted a specific group that he believed would be dead before he got caught and had to pay them back. Butler conned over 120 retired seniors then took the income and put in his own company. Next he mailed all senior investors and told them their savings had been lost. One of the victims fights back and reaches out to the district attorney's office. This led to the DA questioning Butler regarding the senior investors.
In the end Butler's Ponzi scheme in a way was effective with most of his victims dying before the case went to trial. However, justice reigned with a conviction for Butler for 90 years in prison.
- Enhanced DVD
- ISBN: 978-1-61753-816-2
- Copyright date: 2011
- CC
- 21 Minutes
Customer Reviews
Charles Ponzi is perhaps the most famous scammer of all time, and the “Ponzi Scheme” is often referred to when discussing modern scams of a similar nature. Ponzi was an Italian immigrant who swindled people throughout the United States and Canada. He ran a money making scam in which he promised a profit of 50 percent within 45 days or 100 percent within 90 days through the purchase of discounted postal reply coupons from other countries which could be redeemed for a higher value in the United States. Ponzi paid the later investors with some of the funds from the newer investors while pocketing as much as he could.
Ponzi duped countless people out of their savings with his scam which lasted for over a year before he was caught. In this episode of Scammed, the Butler case is studied as one example of another type of Ponzi scheme and the major losses that this type of scam can cause its victims, who are manipulated by the promise of high investment returns. Some of the content of this program may be objectionable. Viewer discretion is advised. (21 minutes)
Ponzi Scheme—Butler Case: ScammedEnhanced DVD ISBN: 978-1-61753-817-9 Run Time: 21 Minutes Copyright Date: 2011 CC
Ponzi duped countless people out of their savings with his scam which lasted for over a year before he was caught. In this episode of Scammed, the Butler case is studied as one example of another type of Ponzi scheme and the major losses that this type of scam can cause its victims, who are manipulated by the promise of high investment returns. Some of the content of this program may be objectionable. Viewer discretion is advised. (21 minutes)
Ponzi Scheme—Butler Case: Scammed
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