How to Make a Madoff
The popping of an asset bubble has a way of bringing investment fraud out of the shadows and into the light. It looks to be no different with the case of Bernard Madoff— respected financier, in-demand money manager, former NASDAQ chairman, and current poster boy for investment trickery. Madoff stands accused of operating an elaborate Ponzi scheme, using cash from new investors to pay off older ones, to the tune of $50 billion. The alleged offenses only came to light because he could no longer raise the money to keep his scheme going, according to the U.S. Securities & Exchange Commission.
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