How to Protect Yourself from the Bernard Madoffs of the World: Ponzi Schemes Revealed p2/2 | PowerOptions Web Log
Still reeling from the effects dealt by the current economic crisis, the financial sector took another blow this time landing where it hurts most, close to its heart! This was bitter to no end as it points to one of its big boys in the community being the culprit of a fraudulent (Ponzi) styled scheme. The accused is former NASDAQ chairman Bernard Lawrence Madoff and until recently chairman of Bernard L. Madoff Investments Securities, the vehicle he used to siphoned $50 Billion from unsuspecting and clueless investors. Mr. Madoff’s style of investment baffled and amazed Wall Street pundits for having scored 72 gaining months in a row while posting only 4 months down in 15 years. No one would have ever imagined Mr. Madoff business prowess was nothing less of a dubious Ponzi style scheme character. A scheme named after Charles Ponzi who was responsible for duping thousands of New...
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