Overview
Ponzi schemes have defrauded individuals for centuries, with the Madoff scheme highlighting their impact in 2008. This course helps financial professionals identify Ponzi schemes, offers guidance for assisting clients who have suffered losses, and discusses U.S. Tax Court cases where taxpayers seek to recover losses.
Learning Objectives
- Identify the general operating methods of a Ponzi scheme
- Recognize the typical hallmarks that are frequently the identifying characteristics of a Ponzi scheme
- Identify the methods used by the IRS to communicate guidance to financial professionals who represent taxpayers who have suffered losses from Ponzi schemes
- List the two different methods supported by the IRS for the reporting of Ponzi losses by individual taxpayers
- Identify the role played by banks and other financial professionals in the operation of Ponzi schemes
Designed For
Investment Advisor Representatives
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