ponzi scheme - parliamentary inquiry

FYI.

An anonymous submission to the present Parliamentary Inquiry into the Agribusiness MIS.

Abstract:

... It is found that the total cost of a forestry MIS project in its 10-year lifespan grossly surpassed the revenue. Funds collected from new investors were appropriated to support earlier projects and to pay dividends, tax and etc., leaving little to the new project itself. Thus the business was fraudulent and designed to fail. The business model also resembled a Ponzi scheme being described in the ASIC website. ...

The full text is at the Parliament website

http://www.aph.gov.au/senate/committee/corporations_ctte/MIS/submissions.htm

with submission number 37. Or directly at

https://senate.aph.gov.au/submissions/comittees/viewdocument.aspx?id=cb38228b-4d11-4a46-a6f9-ca7fed4c78c0