(As a disclaimer, these statistics are presented for educational purposes only, have not been independently verified, and were primarily compiled through articles on Ponzitracker and reporting on the internet by various sources including Kathy Phelps' monthly Ponzi roundups at ThePonziSchemeBlog.com. Individuals accused of Ponzi schemes are presumed innocent until proven guilty. These statistics generally only included Ponzi schemes of $1 million or more based in the United States. Please direct any comments or inquiries to inquiries@ponzitracker.com.)

2021 Ponzi Schemes

According to data maintained by Ponzitracker, authorities uncovered 34 Ponzi schemes last year. This figure represents the lowest number of Ponzi schemes uncovered in a single year since at least 2008 - a time when Bernard Madoff was still a respected Wall Street icon. Although the data again represents a year-over-year drop from the 46 schemes uncovered in 2020 (and nearly half of the 60 schemes busted in 2019), some ominous takeaways from the data suggest that the news is not all positive. Moreover, as the world continued to grapple with multiple COVID-19 outbreaks during 2021, a return to normalcy in 2022 may very well threaten to upend this two-year decline.

In total, 34 schemes were uncovered in 2021, meaning that a new scheme was uncovered about once every ten days. Collectively, the 34 schemes represented roughly $3.8 billion in investor funds - a massive increase from the $1 billion of alleged losses in 2020. This was due to six schemes involving at least $100 million in alleged losses - including three schemes with alleged losses of $500 million or more. Echoing the trend from 2020, the average scheme size in 2021 of $112 million was six times as large as the average scheme size of $21 million in 2020. Similarly, the median scheme size in 2021 was $12 million - nearly double the $7 million median scheme size in 2020. Of note, both the average and median scheme size figures in 2021 were the highest since 2010 (and eclipsed the $54.1 million average and $10.2 million median seen in 2019). More than half of the accused Ponzi schemers called Florida or California home, but 2020 also saw smaller states like Idaho, Rhode Island, and Wyoming serve as home to an individual accused of a Ponzi scheme. One statistic that has remained remarkably consistent even in 2021? Men continued to make up nearly 90% of the accused Ponzi schemers.

One expected development was that the number of sentences handed down to convicted Ponzi schemers saw a significant increase compared to 2020. Whereas only 22 sentences were handed down in 2020 as a result of widespread disruptions in the judicial system from COVID-19, 45 sentences were handed down in 2021 as a likely backlog of sentencings made its way through the system. The longest sentence was handed down to Jeff Carpoff, who received a 30-year term after his conviction for running a $1 billion solar Ponzi scheme. Two 25-year sentences were handed down, although the offenders received those sentences for operating a $2.8 million scheme and a $6 million scheme.

A full database of uncovered Ponzi schemes and prison sentences for 2021 is below:

2021 Ponzi Scheme Sentences