Madoff question scamming of america

How does a ponzi scheme work ?

A Ponzi scheme starts with a investor looking a person who can put their money into a investment that's worth putting their money in. But the person they trusted would take the money and lie about promising that the money is going into an investment. actually it's going into their own bank account. So the investor will be waiting for their money return. that would mean the scammer will need to find more investors to return and so on.

how do i think Bernie Madoff was able to keep his scheme going for so long ?

Bernie Madoff list of investors was very exclusive. So many people were attractive towards the exclusive list. The money given back was always steady so not a lot of people caught on. Bernie was also a caring person. He was close to every investor , even showed up to one investor wife's funeral.

what kind of person is a "ponzi" ?

Charles Poniz

A person who has the charm to convince anyone into anything.

why do i think the SEC did nothing after warnings after warnings about him?

Securities and Exchange Commission

Bernie Madoff was in SEC , So he could have some pulls of getting others on SEC not to believe these "warnings" because the person who tried to get their attention was Bernie Madoff "emeny" who was new to investing.

why do i think he did it ?

Bernie Madoff

Bernie probably came up to a ponzi scheme to make money. As many people want to but not in a way that a lot of people do. but Bernie had a family and was willing to make quick buck.

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Created with images by TBIT - "dollar bank note money" • Everfalling - "Ponzi Scheme!"

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