Fraud and the American Dream: Toward an Understanding of Fraud Victimization

American culture and the practices of government focus an overwhelming majority of attention on violent “street” crime. As a result, very little is known about the victims of fraud. In order to contribute to this literature, a case study is provided that examines the victim population of a Ponzi scheme. Data are provided on the general characteristics of the victims, their investments, and the growth of the scheme. A theoretical model is formulated from Messner and Rosenfeld.'s work in Crime and the American Dream . This paper expands the concepts of this theory by providing evidence that it can be used to explain victim behavior.