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Diamond McCarthy's Kathy Bazoian Phelps Quoted in RIA Intel Article

April 7, 2020

Diamond McCarthy Senior Counsel, Kathy Bazoian Phelps, was recently quoted in RIA Intel’s Ponzi article, “Madoff Is Behind Bars. But With Markets Infected by Covid-19, More Ponzi Schemes May Be Unmasked."

The author of Ponzi-Proof Your Investments: An Investor's Guide to Avoiding the Ponzi Schemes and Other Fraudulent Scams and co-author of The Ponzi Book: A Legal Resource for Unraveling Ponzi Schemes, Phelps was approached by RIA Intel for her expertise in understanding the operations of these fraudulent scams. 

In the article, Phelps comments on the likelihood of receiving any distributions from a Ponzi scheme, noting that the majority of victims will likely see some type of recovery. However, due to incomplete reporting, the “true number of Ponzi schemes and their victims will never be known.” Phelps highlights the importance of reporting fraud to stop fraudulent activity.

To read full article, click here.

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