Accumulate Profit Margin Invest Destroy

One interesting scheme for example is the “Football Picks Scam”. Basically the conartist will take a group of people, say 100, and tell 50 of them that one team will win, and the other 50 that the other team will win. The 50 “winners” are split again in two groups of 25. And so forth until a small group of people is left that has received a series of accurate tips on football matches. At some point the con artists starts demanding money for his services.

31-year old french futures trader Jerome Kerviel is suspected of fraud and causing a 4,9 billion euro (7.1 bn USD) damage to France’s second largest bank, Société Générale. If these allegations are true, the losses at the bank would be the largest ever caused by an individual trader and over five times amount of losses [...]