Exact(3)
He had miraculously been able to pay investors close to 60 cents on the dollar, partly by increasing the value of the assets that the scheme was built on.
If that isn't a pyramid scheme, what is? Far from being built on best practices, this legal Ponzi scheme was built on the mortgage brokers, bond bundlers, rating agencies, bond sellers and homeowners all working on the I.B.G. principle: "I'll be gone" when the payments come due or the mortgage has to be renegotiated.
The scheme was built on an inverted pyramid.
Similar(56)
That's a big problem when an investment scheme is built on paying out old investors with money brought in from new ones.
The scheme is built on the classical RSA signature and possesses several desirable properties.
Like existing DDFV schemes, this scheme is built on the primary and dual meshes and has finite volume (FV) equations for both vertex and cell-centered unknowns.
PID controllers being commonly used in buildings engineering, the proposed control scheme is built on the basis of a PID controller.
In contrast, a Ponzi scheme is built of smoke and mirrors -- illusions.
The entire FSOC-scheme is built on the false premise that government-run bank-style regulations can prevent financial crises.
The foundation of our system is built on top of a numbering scheme that was created in the 1930s for an entirely different purpose.
The PAR scheme in Östergötland was built on structures developed over a number of years, based on collaborations between local physical activity organizations and PHC centres.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com