Joke Was On Him
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Joke was on him
A lie can perpetuate with a blinding speed
Growing on the heels of shameful greed
If enough people believe a con-man's spiel
And blindly proceed to invest in a dubious deal.
He began quite small with his Ponzi scheme
Stomping ruthlessly on gullible citizen's dream
Pretending that he was investing in stock market
Delivering promised returns regularly on target.
Becoming famous as word of high returns spread
Billions he attracted as testimonials mislead,
Paying current clients from new-client receipts
Manipulating his records to hide his deceits.
Although his company was frequently audited
No one could detect the fraud being committed.
Suspicions ran high for returns were unbelievable,
Authorities were fooled by a fraud inconceivable.
Ponzi scheme thrives on constant new cash flow
As new funds meet outflows that continue to grow,
But it collapses in a hurry if new money stops
For clients demand refunds as the company flops.
A market-crash caused new money to dry out
Bringing to a quick end his fraudulent clout
As he confessed to a multibillion fraud scheme
When finally he realized that the joke was on him.
Investors big and small were caught by surprise
Lives that were ruined continue to agonize.
Soon he was arrested for his long tenure of crime
And sentenced to prison for his remaining lifetime.
His son committed suicide overcome by veracity
As his wife deflects shame in solitude of tenacity.
While he sits in jail for a crime of this century
Grievous losses torment lives due to his treachery.
A fraud only propagates till its ultimate demise
For truth always conquers defeating all lies.
November 26, 2017
I started a joke
Sponsor: Maria Williams
First Place
Note: This Ponzi scheme was uncovered after the 2008 market crash. Though the fraudster never invested in the market, new money flow stopped because investors were spooked by the market decline and ensuing recession. He confessed when he couldn't make a multi-billion payment due in 2008. He was sentenced to 150 years in jail. One of his sons committed suicide, the other son died. His brother was also sentenced to jail--all worked for the firm.
Copyright © Vijay Pandit | Year Posted 2017
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