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The Main Characteristics of Ponzi Scams: A Case Study on Israel

Author

Listed:
  • Eldad Bar Lev

    (“Alexandru Ioan Cuza†University of Iasi, Doctoral School of Economics and Business Administration, Romania)

  • Liviu-George Maha

    (“Alexandru Ioan Cuza†University of Iasi, Faculty of Economics and Business Administration, Romania)

  • Stefan-Catalin Topliceanu

    (“Alexandru Ioan Cuza†University of Iasi, Faculty of Economics and Business Administration, Romania)

Abstract

In the last hundred years, Ponzi frauds have taken place in exactly the same method. The variety of fraud types reflects worldwide the creativity of the fraud initiator, on the one hand, and the motivation of investors for high returns in a short period, on the other hand. The purpose of this article is to analyze the main characteristics of Ponzi frauds and to presents a case study of Ponzi frauds in Israel. To achieve this purpose, a reviewing methodology was established, consisting in main theoretical background, a sample of 30 major Ponzi frauds around the world and a case study on Israel. The main findings are that the most used Ponzi frauds are regarding the use of a false brokerage, both Israel and around the world, while a new trend in Ponzi schemes is the cryptocurrency frauds.

Suggested Citation

  • Eldad Bar Lev & Liviu-George Maha & Stefan-Catalin Topliceanu, 2022. "The Main Characteristics of Ponzi Scams: A Case Study on Israel," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 245-254, Decembrie.
    • Handle: RePEc:ovi:oviste:v:xxii:y:2022:i:2:p:245-254
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    File URL: https://stec.univ-ovidius.ro/html/anale/RO/2022-issue2/Section%203/2.pdf
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    References listed on IDEAS

    as
    1. Frankel, Tamar, 2012. "The Ponzi Scheme Puzzle: A History and Analysis of Con Artists and Victims," OUP Catalogue, Oxford University Press, number 9780199926619.
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    More about this item

    Keywords

    white-collar crimes; investment fraud; economic crime; global financial frauds;
    All these keywords.

    JEL classification:

    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • E26 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Informal Economy; Underground Economy
    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law

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