How do ponzi schemes and pyramid schemes differ

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1. How do Ponzi schemes and pyramid schemes differ? How are they similar?

2. Why are successful white-collar criminals such as Madoff able to carry out their schemes for so long when similar types of fraud often collapse at an early stage?

3. What should be done to ensure large-scale scams such as Ponzi schemes and pyramid schemes do not occur in the future?

Reference no: EM131195365

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