Looks like some enterprising fellow in Dubai took a page from the old AEHI playbook:
Dubai jails 'wizard' who promised rain of cash.
For another similar story, check out this account of the incredible Charles K Ponzi, a fascinating, very detailed and well written account by Mark Knutson.
Particulary interesting in light of recent events are nos. 3 and 4 below:
1. Preface: Difficile est Ponzi non scribere
2. The Scheme: Early crimes; The postal coupon scheme
3. The Run: The beginning of the end
4. Bankrupt: Financial and criminal mop-up
5. Epilogue: Further adventures of Ponzi
A thorough understanding of Ponzi's operation, and others' reactions to the accusations, makes it easier to understand how our current one was perpetrated so brazenly and for so long, and why folks are still defending them, as in this letter to the Statesman on Sunday:
"Before you activists convict them, let them prove themselves. As for the Maserati, Don has had that car for at least five years! Quit accusing them of wrongdoing. You are doing anything to destroy these fine people, and it’s got to stop. All supporters please keep supporting AEHI through this hard time."
No matter the evidence to the contrary, these folks simply have to believe. Why?
Someone recommended this book to me:
Mistakes Were Made (But Not by Me): Why We Justify Foolish Beliefs, Bad Decisions, and Hurtful Acts,
by Carol Tavris and Elliot Aronson.
The AEHI saga ought to be its own chapter in that book.
A huge thanks to the person who recommended that book, by the way.