https://69mike.com/tags/fraud/ Recent content in Fraud on Qiaomai Liu https://69mike.com/images/default-cover.png https://69mike.com/images/default-cover.png Hugo -- 0.163.3 en Mon, 20 Jul 2026 00:19:30 +0800 https://69mike.com/posts/why-ponzi-returns-are-not-investment-income/ Mon, 20 Jul 2026 00:19:30 +0800 https://69mike.com/posts/why-ponzi-returns-are-not-investment-income/ 从19世纪早期资金骗局、查尔斯·庞兹与麦道夫案件出发，解释庞氏骗局如何把后来者的本金包装成投资收益，并为依靠工资积累本金的 Worker 建立收益来源、独立托管与新增资金依赖三重核验框架。