The Petters case was an example of the type of fraud called the Ponzi Scheme. This is further explained below.
What is Ponzi Scheme?
Generally, deception is when early investors are bribed with rapid returns on their money by later investors to believe in the success of a non-existent business.
In conclusion, The Petters affair is an example of a sort of investment scam known as a Ponzi Scheme.
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