Ponzi Perpetrators are described as a charming dealer who put more emphasis on certain things that are associated with them either professionally or in a social environment. According to Mitchell Zuckoff, Professor at University of Boston and Jory and Perry (2011) “Ponzi perpetrators are self-delusional.” The culprits of Ponzi schemes are most likely talented to betray investors and are considered to be overweening. These Ponzi scammers approach to those individual in a convincing manner and they
repercussions on organizations. Indeed, Smith (2001:1) alludes to the endemic nature of fraud by contending that fraud would have been a major growth area of the economy if it were considered as an industry Olasanmi (2010:8) opined that because many fraud cases are difficult to detect, it encourages many new fraudsters to join in perpetuating the fraud because management finds it very difficult to detect it and deals with it. According to Bolton & Hand (2002:12), the growth in the rate of occurrence of frauds