Participants in the Madoff investment scandal group of hedge funds owned by Massachusetts Mutual Life Insurance Co, as well as, its parent companies in December 2010, seeking more than $2 billion and alleging that company executives ignored "obvious warning signs" that Madoff was running a fraud. Picard alleged that Tremont failed to do any meaningful review of Madoff's operations or purported investment results, blindly allowing Rye to turn over half its $6 billion in client assets to Madoff and losing half that money when the scheme finally collapsed. The payment of $1 billion to the Madoff truste, provided by Massachusetts Mutual Life as a loan to
Pyramid scheme and are being prosecuted for the crime of "illegal massive money reception." The "Kyiv Post" reported on 26 November 2008 that American citizen Robert Fletcher (Robert T. Fletcher III; aka "Rob") was arrested by the SBU (Ukraine State Police) after being accused by Ukrainian investors of running a Ponzi scheme and associated pyramid scam netting US$20 million. (The "Kiev Post" also reports that some estimates are as high as US$150 million.) In the United Kingdom in 2008 and 2009, a £21 million pyramid scheme named 'Give and Take' involved at least 10,000 victims in the south-west of England and South