Concept information
Preferred term
Fred Wilpon
Definition
- Fred Wilpon has, on two occasions, been both the victim and the beneficiary of a large Ponzi scheme. A Ponzi scheme (named after Charles Ponzi) is an investment that consistently pays larger than normal dividends because it takes the money from some investors and uses that money to pay dividends to others—there are no real investments. [Source: Encyclopedia of White-Collar and Corporate Crime; Wilpon, Fred]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/Fred_Wilpon
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