madoff questions by: luz sanchez

1.the ponzi scheme is a fraudulent investment operation where the organization,or individual pays returns to its investors so that he can manage your money and invest in it.the ponzi has a fraudster and he or she takes the money from the new investors and uses it to play off the earlier investors until no more recruits can be found and the whole scheme collapses.

2. Bernard madoff was able to keep his scheme for so long because no one will suspect of him and nobody knew he was doing this except for 1 to 3 people.he would lure in investors and guarantee them higher prices in return and so people though it was nice so they invested in his industry.they never catch on because he was smart about his choices and he keep everything a secret so that nobody suspected a thing.

3. ponzie person is someone that everyone likes and nobody suspects the least thing on them because they are clever and they take precision on whatever they are doing to keep everything cover.their personality as a ponzie person is sweet and well manner because with this it helps them gain their trust and then they can convince them to invest without telling them anything .

4.i think that the SEC did nothing after warnings about Bernie madoff because they taught they were lying and probably because they had under staffing.the SEC didn't examine the standards or viewed them as important to be apply to bernard madoff case they didn't think it was a big deal since people said he was a nice person so they didn't think he was going to be able to do that.

5.i think Bernard did the ponzie scheme because he was trying to be a good businessman but after he saw that the investments went good he started making more money and investing in the company and this led to him scamming people even tho he knew what he was doing he still did it because he got obsess about how much money he was earning by luring in people so they could invest on him and then pay other old investors

6. only a fraction of madoff thousands of victims have gotten all their money back since the day he went to jail.lawyers have pocketed about 800 million cleaning up madoff mess that he cause in the ponzi. madoff had a heart attack after serving 5 years in prison. the SEC investigated madoof's firm eight times in 15 years

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Luz Sanchez


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