It would seem as though Ponzi's are "All the Rage'. Bankelele recently aired some views on E.A pyramid schemes and Uhuru (Kenya's finance minister) in reading this year's budget just proposed for all pyramid schemes including (non-product) multi-level marketing schemes to be outlawed.
The assets under contention in Kenya's ponzi schemes pale in comparison to the S.A one which is said to have had up to $1.2 billion according to reuters.
Seems like higher-end "sophisticated" investors are just as gullible as the rest of us! Then again, these things are made to sound so sweet that its only after things go haywire does the whole thing become clear.
Like I'd said in an earlier post; "...downturns make it more difficult to conceal financial trickery..." especially where cash flow is critical.
Ps: Bear with & disregard the technical differences between pyramids and Ponzi's.
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