Unlike a Ponzi victim, the only one left in a Tontine is sitting pretty.

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In a Ponzi scheme, the last man loses. In a Tontine, on the other hand, the last man wins, like musical chairs. Here is a link to Charles E. Rounds, Jr.’s article on the common law aspects of the Madoff Ponzi scheme: http://www.jdsupra.com/legalnews/madoff-ponzi-scheme-and-the-sub-prime-mo-11081/. In Loring and Rounds: A Trustee’s Handbook (2012), specifically Section 8.15.59, Rounds discusses the common law’s evolving attitude towards the Tontine. The section is reproduced in its entirety below.

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Published In: Business Organization Updates, General Business Updates, Consumer Protection Updates, Finance & Banking Updates, Wills, Trusts, & Estate Planning Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Charles E. Rounds, Jr., Suffolk University Law School | Attorney Advertising

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Charles E. Rounds, Jr.
Suffolk University Law School

Professor of Law, Suffolk University Law School. Tenure granted: 1990. Author: Loring and... View Profile »


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