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American Greed

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Submitted By anilmech303
Words 417
Pages 2
American Greed Synopsis: Generous With Other People's Money

Summary: The Tom Petters was a Chief Executive Officer of his company over 10 years and did the biggest Ponzi scheme, for 3.6 Billion dollars, in U.S. history. Tom had astonishing enthusiasm for business and he started business called Peters company Inc, in which he purchased and exported all garments and bothered products and exchanges them to big stores.
After few years when he expanded his business with warehouse direct his annual income was 20 million dollars. Later he became manager of American brands like Polaroid and Sun country airlines. Tom began donating funds to few foundations, grandiose parties and he became popular figure. During the year 2007 the monetary business of US government starts to fall, which drove the Peters to lose his confidence. The frightful young lady Friday planned to escape from this Ponzi business scheme and strolls into lawyer Allan Caplan and clarified about her inclusion in the 3.6 billion of Ponzi scheme and US lawyer gathered all the data about this Multi-billion dollar scheme of once-high-moving CEO and sentenced for a long time.

Conceptual Thoughts :
In the Multi-billion dollar Ponzi scheme, Tom Petters was the main pillar and his friend Deanna Colman and partner Bob White helped him to maintain the business for a long time. Petters understood the weakness of investors and fascinated them by offering a high rate of premium and gained a decent name in society by giving his grimy cash to public organisations and colleges, which herd the individuals to accept that he is a legitimate business man and trustworthy to invest with without any risk. He accepted the individuals who were working with him and never showed signs of change them as they were supporting his business.

Critical Personal Analysis:
Tom Petters was mixed by trusted insiders

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