IDEAS home Printed from
   My bibliography  Save this paper

Bay Ponzi’den Bay Madoff’a Ponzi Finansman (Ponzi Finance from Mr. Ponzi to Mr. Madoff)
[Ponzi Finance from Mr. Ponzi to Mr. Madoff]


  • Coskun, Yener


Ponzi finance is a type of financial fraud based on the principle of continuous fund rasing arising from the newcomers to the system. Ponzi scheme is inherently but necessarily tend to financial failure/bankruptcy. In Turkey, there were at least three well known ponzi schemes after 1980’s. Those cases appeared in the Banking Crisis of 1982, illegal/unauthorized fund-raising of some companies in Anatolia in violation of relevant securities legislations and Titan case. After Madoff scandal in the U.S., ponzi scheme is again come up in the finance world. In this article, we examine the concept of ponzi finance in the context of several cases. More importantly, we also assess whether disciplinary tools, namely self/market/official discipline, would prevent ponzi schemes.

Suggested Citation

  • Coskun, Yener, 2010. "Bay Ponzi’den Bay Madoff’a Ponzi Finansman (Ponzi Finance from Mr. Ponzi to Mr. Madoff)
    [Ponzi Finance from Mr. Ponzi to Mr. Madoff]
    ," MPRA Paper 28369, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:28369

    Download full text from publisher

    File URL:
    File Function: original version
    Download Restriction: no

    More about this item


    Ponzi finansman; sahtecilik; Madoff; Banker Krizi;

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage

    NEP fields

    This paper has been announced in the following NEP Reports:


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:28369. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.