The US's largest Ponzi scheme convict Bernie Madoff passed away on April 14 at federal prison's medical facility in Butner, North Carolina. The 82-year-old had a natural death, a year after the court denied his lawyer's request to release him considering medical reasons. Nonetheless, he pleaded guilty of running an investment scam in March 2009. Reportedly, around $13 billion of his investors have been recovered out of $17.5 billion.
Courtesy: Money control
Arun Agnihotri (38) has been arrested by the Delhi police for allegedly cheating more than 130 people of nearly Rs 5 Crore. According to the police, Agnihotri would promise them a monthly return of 200% on the investment made through 'Ponzi scheme'. After collecting a sufficient amount, he would shut his offices and run away. Reportedly, the accused is a resident of West Sant Nagar, Delhi.
Courtesy: India Today