Ponzi scheme

Get full access to The Daily Beast for $1

SUBSCRIBE

Ponzi scheme

Taylor Swift and Travis Kelce
TIGHT LEND

Travis Kelce’s Link to Massive Fraud Scheme Revealed

Prosecutors said Kelce was involved in a multimillion-dollar Ponzi scheme.

Dana Herrnstadt

A photo of DJ Envy and Cesar Piña.
SUBPOENA POWER

Judge to DJ Envy: Turn Over Docs or Face Possible Arrest

“The Breakfast Club” host has until Jan. 8 to produce paperwork in a case involving his business associate, accused scammer Cesar Pina.

Pilar Melendez

Bottles of red wine lie on shelves in the wine cellar of a luxury hotel.
‘SENDS A MESSAGE’

Accused Fine Wine Fraudster Extradited in $99 Million Scheme

Stephen Burton was indicted in 2022 on charges of wire fraud and money laundering for fraudulently making loans off of fine-wine collections that never existed.

Justin Baragona

Former U.S. President and Republican presidential candidate Donald Trump smiles as he speaks during the Turning Point Action Conference in West Palm Beach, Florida, U.S. July 15, 2023.
‘BRAZEN’

Fraudster Freed by Trump Charged With Fraud

Eliyahu Weinstein was previously convicted of cheating investors out of around $230 million.

Dan Ladden-Hall

Ponzi_qeqk7t
FAMILY MATTERS

Victims Say Ponzi Scheme Was a Father-Son Operation

Derek Chu is accused of stealing $39 million to fund a lavish lifestyle of Porsches and private jets. Victims say his father helped him carry out the scam.

Decca Muldowney

230405-north-carolina-ponzi-scheme-hero_y2zfho
‘VARIETY OF LIES’

TikTok Creep Used Ponzi Scheme Millions to Live Large: Feds

Michael French also faces criminal charges for allegedly stalking and intimidating a TikTok influencer he once sent $1,000 a day.

Pilar Melendez

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

GettyImages-1246023287_zoe7jr
SHADIER AND SHADIER

George Santos Had Biz Relationship With Russian Money Man

Newly obtained documents and audio show Santos and Andrew Intrater had a substantial business relationship years ago.

Corbin Bolies

101422-melendez-bill-hero_a2ohbm
NAME BRAND

Investment Hyped by Bill O’Reilly Was Ponzi Scheme, Feds Say

Celebrity endorsers plugged a real-estate investment that seemed too good to be true. According to prosecutors, it was.

Pilar Melendez

GettyImages-82880353_k32jlg
UNHOLY MESS

Florida’s ‘Mother Teresa’ Charged in $196M Ponzi Scheme

The scheme involved raising cash from 15,400 investors, an SEC filing says.

Dan Ladden-Hall

220331-Schager-Trust-No-One-doc-tease_s0vnl6
SCAMMED

The Mystery ‘Crypto King’ Who Stole $215M and Wound Up Dead

The new Netflix doc “Trust No One: The Hunt for the Crypto King” probes QuadrigaCX co-founder Gerald Cotten, who made off with a bitcoin fortune before (supposedly) dying in India.

Nick Schager

220307-david-schamnes-tease-01_epueio
exclusive
‘THERMONUCLEAR WAR’

Trumpy PAC Guy Rants About Hillary as Feds Bust Ponzi Scheme

“In this country, politics has now been criminalized. That’s what’s going on here,” David W. Schamens claimed in a rambling phone call after he was charged.

Justin Rohrlich

ADVERTISEMENT

GET THE APP
Subscribe
Log In
Newsletters
Podcasts
AboutContactTipsJobsAdvertiseHelpCode of Ethics & StandardsInclusionTerms & ConditionsCopyright & TrademarkPrivacy

© 2026 The Daily Beast Company LLC