Petters was a renowned Minnesota businessman and philanthropist who once owned Polaroid. His company claimed to use the investor’s money to finance the purchase of electronics which were supposed to be resold to big box retailers. His scheme was uncovered in 2008 and in 2010, he was sentenced to 50 years in prison.
The loot – $3.7 billion
Probably the only Ponzi schemes that sparked a civil uprising, these schemes also indirectly led to 2000 deaths. After the collapse of communism, Albania’s economy became dominated by pyramid schemes which were endorsed by the government. Eventually, over two thirds of the nation’s population went on to invest in these schemes. As the schemes collapsed in a heap in 1997, the Albanians took to the streets and toppled the government. This uprising might also have fueled the later unrest in Kosovo.
The loot – $1.2 billion