Top 10 Largest Ponzi Schemes of the 21st Century


7. Allen Stanford - $7 billion

This one sounds like a story from a cartoon, but it actually isn’t. Allen had the brilliant idea of introducing himself as the heir of Leland Stanford, the founder of Stanford University in California. By doing so, he charmed and impressed people.

Image source: twitter

Shortly after, he would funnel their money to his own banks in Antigua and other exotic locations. He even paid off numerous politicians to cover up his deeds. The feds showed no mercy for his $7 billion-theft and handed him a 110-year sentence.