Ponzi schemes can operate in the open for a pretty long time. As of late 2007 it was pretty clear that Agape World Inc. was a classic Ponzi scheme (see FatWall

Ponzi schemes can operate in the open for a pretty long time. As of late 2007 it was pretty clear that Agape World Inc. was a classic Ponzi scheme (see FatWallet forum thread full of promoters and onlookers patiently explaining the scam at https://web.archive.org/web/20080503040727/http://www.fatwallet.com/forums/finance/780511/ https://web.archive.org/web/20080503040727/http://www.fatwal... ). They claimed to offer "commercial bridge loans", which to a limited extent they actually did, though they were mostly paying investors other investors' money. They operated apparently with impunity throughout 2008 and the arrest wasn't until Jan 2009, with years of further criminal charges helping unravel the scam ( e.g. https://archives.fbi.gov/archives/newyork/press-releases/2011/former-agape-world-inc.-owner-and-president-sentenced-to-25-years-imprisonment-for-multi-million-dollar-ponzi-scheme https://archives.fbi.gov/archives/newyork/press-releases/201... , https://www.justice.gov/usao-edny/pr/largest-grossing-broker-agape-ponzi-scheme-sentenced-108-months-imprisonment https://www.justice.gov/usao-edny/pr/largest-grossing-broker... ). It was just fascinating to spend all of 2008 reading that forum thread being vividly suspicious that folks were being scammed in broad daylight for a year.