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What is amazing is the market for brand images, tradenames, etc., after a business implodes. I knew someone who developed a substantial business importing bicycles manufactured in China, starting in the 1980s. They were cheap knock-offs, poor imitations of typical bicycle manufacturing brands in the US. His firm ultimately purchased the Schwinn brand trademark from the bankruptcy estate, or possibly from someone who had acquired it from the estate, and they now import inexpensive bikes sold under the Schwinn brand. I think you see them at Target and other mass retailers. Just junk compared to what was made back in the day by the original Schwinn folks. But these trade names often sit on the shelf after a bankruptcy and get traded and then exploited many years later, and they apparently fool some who recall the original brand essence.

Then you have the Ponzi aspect - what scammers look for are affinity groupings that they can exploit. Religious membership, hobby or sports interests, etc. Some alignment with the potential victim that conveys trustworthiness, even though it should have no such connotation. We had a neighbor who was proven to be a Ponzi schemer, and he exploited Irish heritage, horse racing, and golf as affinity connections to potential victims. He and his business partner took in ~$136M in “investments”, and when it collapsed, and in the 15 years since he was arrested, the receiver only recovered enough that the sentences they received included $99.5M in restitution. He bought memberships in famous country clubs around the world so he could invite potential victims to play at “his” club (St. Andrews, etc.). He insinuated himself into the thoroughbred owners association in upstate NY so he could meet people who owned and raced horses (a well-heeled source of victims). The simple and flawed chain of logic (”He must be ok, he belongs to my church/country club/etc.”) has led to a lot of investor heartburn.