Word: dominelli
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Dates: during 2000-2009
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...schemes, a ringleader facilitates the entire enterprise; in a pyramid scheme, rungs of collaborators recruit new investors.) In the boom years of the 1980s and '90s, as traders developed increasingly sophisticated investment vehicles, the cons cropped up with increasing regularity. In 1985, a San Diego currency trader named David Dominelli was revealed to have fleeced more than 1,000 investors to the tune of $80 million. During the 1990s, a Florida church called Greater Ministries International bilked nearly 20,000 people out of $500 million in a pyramid scheme hatched by leader Gerald Payne, who claimed God would double...
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