{"id":372611,"date":"2016-03-31T21:35:00","date_gmt":"2016-04-01T02:35:00","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/state\/florida-law\/florida-pyramid-and-ponzi-scheme-laws.html"},"modified":"2018-02-27T01:00:00","modified_gmt":"2018-02-27T06:00:00","slug":"florida-pyramid-and-ponzi-scheme-laws","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/state\/florida-law\/florida-pyramid-and-ponzi-scheme-laws.html","title":{"rendered":"Florida Pyramid and Ponzi Scheme Laws"},"content":{"rendered":"\n
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Florida Pyramid and Ponzi Scheme Laws<\/h1>\n
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Created by FindLaw’s team<\/a> of legal writers and editors<\/i><\/p>\n\n | Last reviewed\n

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Financial fraud takes can take different shapes, and scammers wear many different masks. Most states have consumer protection laws that prohibit certain deceptive business practices such as pyramid <\/a>and Ponzi <\/a>schemes. Bernard Madoff, one of the most famous perpetrators of a Ponzi scheme in U.S. history, was sentenced to 150 years in a federal prison after pleading to 11 counts of financial fraud. His wealth management company defrauded investors out of an estimated $18 billion before changes in the broader economy forced his hand.<\/p>\r\n

Florida, along with other states, has statutes that identity such schemes and prosecute the perpetrators.
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Warning Signs of a Pyramid or Ponzi Scheme<\/h2>\r\n

Pyramid and Ponzi schemes are illegal and very risky ‘get-rich-quick’ schemes that can cost a lot of people a lot of money. Here are some practices to watch out for.<\/p>\r\n