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Posted by Allen P Wilkinson on October 21, 2009 · Leave a Comment
In 1920, Charles Ponzi, an Italian immigrant, started advertising that he could make a 50% return for investors in only 45 days. People mortgaged their homes and invested all of their life savings with Ponzi, so that by July 1920, Ponzi was bringing in millions of dollars. As with all frauds, the money return to [...]
Filed under Commentary, Corporate/Finance · Tagged with 150 years sentence, Bernard Madoff, Bernie Madoff, billions of dollars, chairman of Nasdaq, Charles Ponzi, control over other people, deceive, deception, double-digit returns, greed, investment, investors, life savings, Nasdaq, no chance of parole, nonprofit organizations, plead guilty, ponzi scheme, psychopath, securities fraud, too good to be true, wiped out
Bernie Madoff’s Ponzi Scheme
Posted by Allen P Wilkinson on October 21, 2009 · Leave a Comment
In 1920, Charles Ponzi, an Italian immigrant, started advertising that he could make a 50% return for investors in only 45 days. People mortgaged their homes and invested all of their life savings with Ponzi, so that by July 1920, Ponzi was bringing in millions of dollars. As with all frauds, the money return to [...]
Filed under Commentary, Corporate/Finance · Tagged with 150 years sentence, Bernard Madoff, Bernie Madoff, billions of dollars, chairman of Nasdaq, Charles Ponzi, control over other people, deceive, deception, double-digit returns, greed, investment, investors, life savings, Nasdaq, no chance of parole, nonprofit organizations, plead guilty, ponzi scheme, psychopath, securities fraud, too good to be true, wiped out