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Well, I would phrase it differently in that case. Either the perpetrator knowingly starts as a fraud or stumbles into a fraud and doubles down on it.
by yalogin 6y ago
Well, I would phrase it differently in that case. Either the perpetrator knowingly starts as a fraud or stumbles into a fraud and doubles down on it.
- nickff 6y agoI would be surprised if the perpetrator ever thought of it as a 'fraud'; people are capable of tremendous self-deception. That said, even if it is 'only' a case of negligence and self-deceit, it still has real victims, and I don't mean to minimize that at all.
- tmpz22 6y agoSelf delusion does not excuse someone from a crime. Founders do not get a get-out-of-jail-free-card for being amateur psychopaths.
- nickff 6y agoI am not sure whether you're responding to any point in my comment, but I never said delusion was an excuse; negligence can be criminal. >Founders do not get a get-out-of-jail-free-card for being amateur psychopaths. I don't think you have to be a psychopath to run a Ponzi scheme, and in any case, if you were, you'd be a professional psychopath.