WilmerHale Partner Boyd M. Johnson III, a member of the firm's Investigations and Criminal Litigation Practice, contributed to a CNBC special investigative report on December 11, which provided an updated analysis on Ponzi schemes. As a former federal prosecutor in the Southern District of New York for 12 years, Johnson talked in general about the definition and elements that make up a Ponzi scheme and the reasons they continue to surface.
In the report, Johnson explained that Ponzi schemes will most likely always exist because, "unfortunately, there are always going to be the victims who need money fast." He advised that people consider "when something seems too good to be true, it often is." Johnson concluded by stating that "no matter how effective the Ponzi scheme is, at the end of the day, it is going to crash down." View the full report.
WilmerHale Partner Boyd Johnson speaking in an interview with CNBC Reporter Andrea Day.