1. How does a Ponzi scheme work?
The Ponzi people give old investors money from new investors in a fake return while taking a brokerage fee as their cut.
2. How do you think Bernie Madoff was able to keep his scheme going for so long?
People liked and trusted him. Working with him was considered an honor. He hid behind his legitimate brokerage. Madoff served as a non-executive chairman of nasdaq as well as participating on many panels for regulations. He depended on being an insider to secure more wealthy investors. He was an "in" guy and depended on being an insider to keep perpetuating the lie.
3. What type of person is a “Ponzi Person”
They were magnetic and charismatic. They had to look confident, they know the system but not of they system which gives them an outsider's morals but an insider's knowledge. They are virtually sociopathic.