“Beware of Scams!” Stage finance is a theatrical representation of a financial affair now "historical". And it also offers the starting point for a debate on the most important lessons for the protection of savers and investors. The financial education project is promoted by Consob, the stock exchange supervisory commission, and will be held on 28 May at 20 at PIME Theater of Milan (Via Moses Bianchi 94).
The initiative is Delivery to Italy takes one or two business days and to signal the interest in participating (subject to availability) it is necessary to send an mail to edufin@consob.it .
The first edition is dedicated to Ponzi scheme. Director Massimo Giordano interpret Charles Ponzi, the Italian con man who in 1920 picked up $15 million from approximately 40.000 investors. The Ponzi scheme is a fraudulent sales model which promises high profits to victims as long as they recruit new “investors”, themselves victims of the scam.
The Ponzi scheme allows the first ones involved to get high short-term economic returns, but continually requires new victims willing to pay dues. The earnings in fact they derive from dues paid by new investors. The system is meant to end with Prevention for most participants, because the money "invested" does not give any real income or interest. It is a scheme still known today and also replicated through the e-mail and the web.
One of the most famous cases is that of Bernard Madoff (which refers to the Ponzi scheme), the American financier capable of setting up a fraudulent system of 65 billion dollars, the largest financial scam Of all times. A collapsed scam due to the US economic meltdown of the winter of 2008, when the bankruptcy of Lehman Brothers undermined the Madoff's "trick". and forced him into bankruptcy. The Manhattan Court sentenced him to a term of 150 years in prison.
Following the show, a debate with the public edited by Nadia Linciano and Paola Soccorso (Economic Studies Office) of Consob, to demonstrate i psychological mechanisms which you need to be aware of and the precautions to take to avoid falling victim to a scam. They will also intervene Isabella Menichini (Director of the entertainment area of the Municipality of Milan), Debora Rosciani and Mauro Meazza (Radio 24).
