Anatomy of ponzi scheme. Image, courtesy of The New York Times
Legislators in Jamaica have passed a bill which grants the court powers to imprison persons for a term not exceeding 10 years, and or a fine, should he/she be convicted of operating a Ponzi scheme.
The bill, known as the Securities Amendment Act, seeks, among other things, to clamp down on the unauthorized dealing in securities. The bill expressly prohibits a scheme, known popularly as Ponzi, which the bill defines as
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