Matt Levine’s Money Stuff: Buffett’s Fake Solar Generators

June 14, 2021, 7:01 PM

Mobile tax-credit generators

The simplest scam is, you tell people that you will invest their money for them and make them more money, they give you their money, and you steal it. They tend to notice this eventually, though, and get mad about it. There are ways to delay or mitigate that. You send them fake account statements, you tell a compelling story about how their money disappeared, you do a Ponzi scheme where you steal later investors’ money to pay back earlier investors, etc. You can make it work, at least for a while, but there is always that central ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.