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МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time. By different estimates from 5 to 40 million people lost up to $10 billion. The company started attracting money from private investors, promising annual returns of up to 1,000%.
Signed into law by President Jimmy Carter on December 19, 1977. The Foreign Corrupt Practices Act of 1977 ( FCPA) ( 15 U.S.C. § 78dd-1, et seq.) is a United States federal law that prohibits U.S. citizens and entities from bribing foreign government officials to benefit their business interests. [1]
A loan shark is a person who offers loans at extremely high or illegal interest rates, has strict terms of collection, and generally operates outside the law, often using the threat of violence or other illegal, aggressive, and extortionate actions when seeking to enforce the satisfaction of the debt. [1] As a consistent or repeated illegal ...
Illegal logging is the harvest, transportation, purchase, or sale of timber in violation of laws.The harvesting procedure itself may be illegal, including using corrupt means to gain access to forests; extraction without permission, or from a protected area; the cutting down of protected species; or the extraction of timber in excess of agreed limits.
Manuel Noriega. Manuel Antonio Noriega Moreno ( / mɑːnˈwɛl ˌnɔːriˈeɪɡə / ⓘ mahn-WEL NOR-ee-AY-gə, Spanish: [maˈnwel noˈɾjeɣa]; February 11, 1934 – May 29, 2017) [a] was a Panamanian politician and military officer who was the de facto ruler of Panama from 1983 to 1989. He never actually served as president of Panama, instead ...
A Ponzi scheme ( / ˈpɒnzi /, Italian: [ˈpontsi]) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. [1] Named after Italian businessman Charles Ponzi, this type of scheme misleads investors by either falsely suggesting that profits are derived from legitimate business ...
Philippine Government Securities. Philippine government securities (locally referred to as "GS") are the unconditional debt obligations of the Republic of the Philippines. These are all denominated in the local currency, the Philippine peso. The securities are issued by the Republic through its fiscal agent, the Bureau of Treasury.
The national debt of the Philippines is the total debt, or unpaid borrowed funds, carried by the national government of the Philippines. As of end-June 2023, the total national debt of the Philippines amounts to ₱14.62 trillion ($264.49 billion). Total outstanding debt: ₱14.62 trillion ($264.49 billion) (58.3% of GDP) (December 2023)