273: The Biggest Ponzi Schemes of All-Time
Invest Like a Boss
Sam Marks Johnny FD Derek Spartz
4.8 • 518 Ratings
🗓️ 11 May 2023
⏱️ 50 minutes
🧾️ Download transcript
Summary
After both watching the new Netflix docuseries on Bernie Madoff, Sam and Derek decide to dive deeper into the art of the Ponzi Scheme. They discuss how they came about and go over some of the biggest financial fraud cases in history. This is part one of a two episode run on financial fraud and ponzi schemes. ILAB 274 will feature an expert with tips on how to spot fraud in your investments.
Discussed:
Where we are:
- Johnny FD – Phuket, Thailand / IG @johnnyfdj
- Sam Marks – Bangkok, Thailand / IG @imsammarks
- Derek – Los Angeles / IG @DerekRadio
Sponsor:
- Nom Nom
At Nom Nom, we make food that looks like food. Tailored to your pet’s exact needs and backed by years of scientific research. Get 50% off your first 2 week trial when you visit trynom.com/ilab
Like these investments? Try them with these special ILAB links:
- Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK)
*Johnny and Sam use all of the above services personally.
- Invest Like a Boss Patreon
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Time Stamp:
- 06:49 - What's Considered a Ponzi Scheme?
- 08:11 - Charles Ponzi
- 12:11 - Enron
- 20:15 - Tom Petters
- 27:54 - Allen Stanford
- 31:25 - Bernie Madoff
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Transcript
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| 0:00.0 | Hey bosses, before we kick off this episode, let me tell you about our sponsor, Nom Nom, |
| 0:03.6 | Nam. Your pet's a member of the family, so don't feed them like they're in the dog house. |
| 0:08.6 | Give them Nom Nom Nom. |
| 0:10.3 | Nom delivers fresh dog food with every portion, personalized to your dog's needs, so you can bring out their best. |
| 0:17.2 | Nom Nom is made with real whole food you can see and recognize without any additives or |
| 0:22.5 | fillers that contribute to bloating and low energy. That's because Nom Nom Nom uses the latest science |
| 0:27.4 | and insights to make real good food for dogs. Their nutrient-packed recipes are crafted by |
| 0:33.0 | board certified veterinarian nutritionists made fresh and ship free to your door. |
| 0:38.6 | In fact, Nom NOM's already delivered over 40 million meals to good dogs like yours, |
| 0:43.6 | inspiring millions of clean bowls and tailwags. |
| 0:47.3 | And Nom NOMS sent me a sample pack. |
| 0:49.8 | I'm going to tell you all about it coming up during the break in the show. |
| 0:52.5 | Seriously, this stuff looks so good. |
| 0:53.9 | I almost ate it myself. If you want to check out Nom Nom for yourself, you should go right now to get 50% off a no-risk two-week trial when you go to trynom.com slash iLab. That's try-t-R-Y-N-O-M dot com slash I-L-A-B. It's trynum.com slash i-l-l-l-A-B. All right, let's kick off this episode of Invest like a Boss. Welcome to the Invest Like a Boss podcast. |
| 1:28.7 | I'm Sam Marks. |
| 1:29.6 | I'm Derek Sparts. |
| 1:30.6 | And I'm Johnny FD. |
| 1:31.5 | We're self-made entrepreneurs who invest our own money and use modern technology to invest like a boss. |
| 1:36.1 | Join us each week for exclusive interviews with our network of modern investors, business owners, and multimillionaires to discover new ways to invest our hard-earned cash. |
| 1:46.1 | All right. all right. |
| 1:47.1 | Welcome back, bosses. |
| 1:48.5 | I got a fresh location for you for this episode. |
... |
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