Ponzi Schemes

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What is an example of a modern Ponzi scheme?

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The most famous recent example of a Ponzi scheme is the investment fraud engineered by Bernard Madoff.  Madoff defrauded thousands of investors of tens of billions of dollars.

Madoff’s fraud was a Ponzi scheme because it depended upon the constant recruitment of new investors.  In the fraud, Madoff would take...

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