1. A Ponzi scheme works by taking advantage of investors by taking their money and promising "high" payouts, then old investors are paid by new investors and have other investors invest.
2. Bernie Madoff was able to keep his scheme because he was a liked guy and he knew what the people want.
3.A Ponzi person is a type of person who is very nice when you meet them but has a little bit of shady to them, very humble and has no concisionvv
4. I think the SEC didn't do anything after being warned about bernie because the people on the board "knew him and were his friends"
5. Yes, i very much believe that Bernie did the scheme because 68 BILLION dollars just doesn't go missing. http://www.huffingtonpost.com/2014/01/22/madoff-suffered-heart-attack_n_4645561.html
6. Bernie Madoff is serving 150 years in jail or serving his whole lifehttp://www.cnn.com/2013/03/11/us/bernard-madoff-fast-facts/
7. Madoff trading from handled more than 5% of New York's Stock exchange.http://www.nytimes.com/interactive/2009/06/29/business/madoff-timeline.html?_r=0