You would think that after the Bernie Madoff scandal was exposed, the era of Ponzi scammers would come to an end. Sadly, this is not the case.
Recently, former Denver Broncos quarterback John Elway and his business manager were scammed out of $15 million in a massive Ponzi scheme. The Colorado district attorney alleges that hedge-fund manager Sean Mueller may have stolen as much as $122 million from hapless investors.
That's scary news. How can an investor protect his or her hard-earned money? Personal finance expert Dan Solin offers 8 tips for protecting your portfolio from these greedy schemes. To read more about how Ponzi schemes work, along with Solin's 8 useful ideas, read his full blog: http://retirement.equifax.com/2010/12/8-ways-to-ponzi-proof-your-portfolio.html
Ilyce Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com, The Equifax Personal Finance Blog and CBS Moneywatch She is Chief Content Strategist at RealtyJoin.com, a community for real estate investor