Bernard Madoff ponzi Scheme

The original Ponzi case took place nearly 100 years ago. Despite this we still see variations of this type of fraud to this day. Recently, a scam was conducted over many years that may turn out to be the largest such Ponzi type scheme ever. Bernard Madoff is said to have swindled investors out of as much as 50 billion dollars. After reading Chapter 1 and the article, Madoff’s Alleged Ponzi Scheme Scams Smart Money, answer the following questions and share your own views about this scam.

How did Madoff do it?
Would you have invested with him if you had a lot of money? Feel free to express yourself here.

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Question 1:

The exact details of the Madoff Scheme are yet to be established but initial investigations point to a Ponzi like scheme. The reason as to why Madoff was able to swindle the $50 billion from his clients is due to his business strategy. For instance, he offered modest but steady returns to an exclusive clientele. He was very particular with whom we wormed with. He chos….

APA

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