NUM FICHE 005

43

REDACTEUR 030

NANIOT S.

ORGANISME 035

ISTI

DATE RED 040

9308

DOM GEN 060

finance |

DOM SPEC 065

investment |

ENT AN 105

ponzi scheme

IN ENT AN 110

E ; n ; (FINA-F,1992a:8)

DEF AN 115

A type of investment fraud in which initial investors are paid off with funds taken from subsequent investors lured by the promise of large profits. (BARN-B,1990:395)

CONT AN 120

Investors' money was used to provide Mr Clowes with an extravagant lifestyle, according to the prosecution case mounted by the Serious Fraud Office. New investments were taken in and used to pay "returns" to existing investors in a constant recycling of money. It worked as long as new cash was available to feed the machine - a classic "ponzi" scheme, one of the oldest forms of investment fraud. (FINA-F,1992a:8)

NOT AN 125

To be successful, a Ponzi scheme relies on a single prime condition: the mobility of money as expressed by the concentration of capital and the dispersal of debt. An individual persuades a great many people to give him a good deal of money. A few are repaid handsomely to inspire confidence; the rest are paid in dribs and drabs to hint to future earnings. As practiced by a bank, it consists of accepting deposits, lending them to qualified borrowers and then relending the same money to other qualified borrowers, increasing the principal and interest payments while decreasing the amount of real money in the system. Named after Charles Ponzi, a swindler who devised such a scheme in 1919-1920. (BARN-C,1990:395)

V O AN 145

Ponzi scheme | E ; n ; (BARN-C,1990:395) |

ENT FR 205

stratagème de Ponzi

IN ENT FR 210

F ; n m ; (LEMO-F,1992b:38)

DEF FR 215

Type d'investissement frauduleux qui consiste à emprunter des fonds à des investisseurs pour servir des dividendes à des actionnaires. (R) (LEMO-F,1992b:38)

CONT FR 220

Résultat: l'Etat - qu'il soit américain, français, allemand, etc. - emprunte pour faire face à ses obligations antérieures. Cela rappelle un procédé baptisé par les économistes américains [stratagème de Ponzi]. (LEMO-F,1992b:38)

NOT FR 225

Ce stratagème porte le nom d'un escroc bostonien, Charles Ponzi, qui l'imagina en 1919-1920. (R) (LEMO-F,1992b:38)

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© Naniot Sébastien 1993.