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Balance sheets depict what a company owns and what it owes.

In this example, the categories have the same meaning, but the cash and investments own are not growing as fast or at all as the Ponzi scheme purports. Cash is depleted to pay for the promised returns to clients.

In order to keep going, the Ponzi scheme must attract new client deposits to artificially prop up the investments section of the balance sheet so that the new cash can be used to pay the returns from the investments to earlier investors. In reality, however, the own section of the balance sheet is going down, and therefore the worth is also going down, eventually slipping into negative territory.

The result is a constant need for cash, which puts pressure on the firm to attract greater and greater investments at an increasingly rapid rate to pay out those investors seeking redemptions. The revised edition of their classic Financial Intelligence will be published in February. Karen Berman and Joe Knight.

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They recruit the attorney to open an LLC or create an operating agreement. Borg said. The financial advice industry should brace itself for what could very well prove to be a turbulent time ahead. Formerly known as the Best Practices Workshop, this new one-day conference will also include content from the Best Places to Work event!

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5 Years Ago Bernie Madoff Was Sentenced to 150 Years In Prison – Here's How His Scheme Worked

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Remember Bernie Madoff? Big time financial fraud is back

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Big time financial fraud is back Dawn Bennett just the latest in a growing list of malfeasance by advisers and others. Oct 24, am By Bruce Kelly. Recommended next. Most popular 1.

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