Mini-Madoff? Anatomy of a Recent Ponzi Scheme

Authors

John R. Sparger, The University of Texas Rio Grande Valley

Document Type

Article

Publication Date

2024

Abstract

This study analyzes a Ponzi scheme and bankruptcy that is contemporaneous at the time of this writing and draws a comparison to the similarities between the Ponzi scheme and its perpetrator, M. Burton Marshall, to Bernie Madoff, and his Ponzi scheme. While the absolute magnitudes of the Marshall and Madoff Ponzi schemes differ significantly, there are similarities in their relationships with the communities that became their victims. By using possible warning signs for financial fraud, similarities between Marshall and Madoff’s personalities and business operations also can be identified. While the final legal outcome for the Marshall Ponzi scheme and bankruptcy is not known, it is possible based on the analysis and similarities to the Madoff Ponzi scheme and bankruptcy to draw preliminary conclusions about potential actions or outcomes in the Marshall Ponzi scheme and bankruptcy.

Comments

Copyright the Journal of Forensic and Investigative Accounting

Recommended Citation

Sparger, J., 2024. Mini-Madoff? Anatomy of a Recent Ponzi Scheme. Journal of Forensic and Investigative Accounting 16, 457–473.

First Page

457

Last Page

473

Publication Title

Journal of Forensic and Investigative Accounting