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Financial History Financial History

This category contains a wealth of information about financial history, with sub categories for major depressions, recessions, scams, failures and bankruptcies that made the news. Use it to learn about the causes and effects of each event.

  • Major Scams and Bankruptcies

    GainBitcoin 

    The GainBitcoin Ponzi scheme is a significant episode in the chronicles of cryptocurrency-related frauds, highlighting the potential risks associated with digital currencies. Operating under the guise of a legitimate Bitcoin investment opportunity, this fraudulent scheme effectively duped thousands of unsuspecting investors, ultimately leading to financial ruin for many. Background Initiated in 2016, GainBitcoin was presented …
    GainBitcoin
  • Major Scams and Bankruptcies

    Mt. Gox 

    Mt. Gox, once the largest Bitcoin exchange in the world, became a cautionary tale in the history of cryptocurrencies. Handling over 70% of all Bitcoin transactions worldwide by early 2014, its abrupt cessation of operations revealed a dark underbelly of the crypto world and underscored the significance of security and regulation in the realm of …
    Mt. Gox
  • Major Scams and Bankruptcies

    Stanford Financial Group 

    The Stanford Financial Group Ponzi Scheme stands as one of the most notorious financial frauds in history, leaving a long-lasting imprint on the financial sector due to its scale and complexity. Initiated by Allen Stanford, the scheme managed to swindle investors out of billions of dollars under the guise of legitimate investments. In this article, …
    Stanford Financial Group
  • Major Scams and Bankruptcies

    Madoff Investments 

    Bernard Lawrence Madoff was the brain behind one of the largest Ponzi schemes in history, defrauding thousands of investors of billions of dollars over several decades. The Bernie Madoff Ponzi Scheme surfaced in 2008, shattering the financial lives of many and shaking the financial industry to its core. In this article, we will explore the …
    Madoff Investments
  • Major Scams and Bankruptcies

    Petters Group Worldwide 

    The Petters Group Worldwide Ponzi scheme was one of the most infamous financial frauds in history, characterized by its vast scale and the severity of its impact on investors. In this article, we offer a detailed examination of the scheme, from its initiation to its eventual unraveling. Background: Petters Group Worldwide Petters Group Worldwide was …
    Petters Group Worldwide
  • Major Scams and Bankruptcies

    Mutual Benefits Corporation 

    The Mutual Benefits Corporation (MBC) Ponzi scheme is an infamous episode in the annals of financial fraud. Its case provides invaluable lessons for investors and regulatory bodies alike on the importance of vigilance, transparency, and accountability in the financial sector. In this article, we explore the mechanics of the scheme, the players involved, and the …
    Mutual Benefits Corporation
  • Major Scams and Bankruptcies

    Greater Ministries International 

    Greater Ministries International, a religious organization turned Ponzi scheme, left in its wake financial ruin and shattered faith. This infamous case in the annals of financial fraud showcased how trust, religion, and greed could blend to deceive and exploit individuals. In this article, we explore the background, scheme, and downfall of this Ponzi scheme. Background: …
    Greater Ministries International
  • Major Scams and Bankruptcies

    MMM 

    The MMM Ponzi scheme was a notorious financial swindle that promised investors sky-high returns but ended up causing substantial loss and heartbreak for thousands around the globe. In this article, we delve into the origins, mechanisms, and downfall of this infamous scheme, highlighting the need for increased awareness and caution among potential investors. Origins of …
    MMM
  • Major Scams and Bankruptcies

    The Caritas 

    The Caritas Ponzi scheme, one of the largest and most infamous financial frauds in history, served as a cautionary tale of the dangerous allure of easy wealth. In this article, we will explore the genesis, operation, and eventual collapse of this notorious scheme, shedding light on the events that led to significant financial loss for …
    The Caritas
  • Major Scams and Bankruptcies

    Moneytron 

    Moneytron was one of the notorious financial scams that shook the investment community during its time. In this article, we aim to shed light on the intricate web of deceit woven by the masterminds behind Moneytron, explaining its origins, operations, and ultimate downfall.The Origins of MoneytronMoneytron was not just a fraudulent scheme but also the …
    Moneytron