The Earl Jones scam is a particularly interesting read.
GET MAD, STAY MAD: EXPLORING STAKEHOLDER MOBILIZATION IN
THE INSTANCE OF CORPORATE FRAUD AND PONZI SCHEMES
Abstract:Using a multi-case study, three Ponzi schemes
were investigated: Road2Gold, Bernie Madoff’s empire, and the Earl Jones
affair. This grounded study used an inductive bottom-up methodology to observe
and describe stakeholder mobilization in reaction to corporate fraud. This
research on stakeholder behaviour in Ponzi schemes articulates new theory for
describing stakeholder behaviour and possible determinants for successful
mobilization to action. The data presented here point to a useful distinction
in the stakeholders in a corporate fraud: reluctant and engaged stakeholders.
Reluctant stakeholders seek only interest-based ends, whereas engaged
stakeholders have additional identity and ideological goals shared by a
mobilized group.
Read the paper here
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