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E & O Coverage Excluded for Undisclosed Potential Claims Linked by Ponzi Scheme to Actual, Known Claim

A Ponzi scheme is a fraudulent investment scheme where money pried from new investors is used directly to pay off old investors: Think chain letters enclosing money. “‘This scheme takes its name from Charles Ponzi, who in the late 1920s …

The post E & O Coverage Excluded for Undisclosed Potential Claims Linked by Ponzi Scheme to Actual, Known Claim appeared first on Claims Journal.

Source: Claims Journal