Title: Ponzi schemes and California pyramids Ponzi schemes and Home-Stake

Authors: Tony Tinker; Adeoye Afolabi; Abdelkader Derbali; Aida Sy

Addresses: Baruch College, City University of New York, 55 Lexington Avenue, New York, NY 10010, USA ' Department of Economic and Management Studies, College of Social and Management Sciences, Afe Babalola University, PMB 5454 Ado-Ekiti, Nigeria ' Department of Finance, Higher Institute of Management of Sousse, Sousse, Tunisia ' Department of Business Management, Farmingdale State College, State University of New York, Room BUSC 307, New York 11735, USA

Abstract: In this paper, we investigate the cases of accounting and business fraud known as Ponzi schemes. These cases studies have been done several decades ago by Professor Tony Tinker. But, notwithstanding Tinker's warning, some corporations and some corporate executives still believe, they are above the law and are using accounting to mislead shareholders and mismanage the corporate finances. The case of Bernard Madoff, a CPA, is an example.

Keywords: Ponzi schemes; critical analysis of accounting; fraud; audits of corporations; California; US economies.

DOI: 10.1504/IJCA.2018.091159

International Journal of Critical Accounting, 2018 Vol.10 No.1, pp.1 - 14

Available online: 10 Apr 2018

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