Posts Tagged ‘pyramiding’

Madoff versus Baladjay: The King of Ponzi versus The Queen of Pyramiding

Thursday, July 2nd, 2009

Madoff versus Baladjay: The King of Ponzi versus the Queen of Pyramiding

by: Kendrick Chua, The Wealth Warrior

bernard-madoff versus baladjay

Wall Street has had a colorful week to say the least. The notorious Bernard “Bernie” Madoff had been sentenced to 150 years in prison and restitution of $170 Billion dollars for the 11 cases of felony with over $65 Billion dollars of fraud, the largest in US History. Clearly, he earned the title, “King of Ponzi”.

That was the headline of Wall Street this week. But in the local front we have someone who can give Madoff a run for his money. And she is the queen of pyramiding, Rosario Baladjay-the president of the Multitel who duped millions of investors into her pyramiding scheme.

Mano-a-mano, who amongst the two is the better (or worse) scoundrel?

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