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ponzi

   

The Madoff Name Premium

by Flexo on November 16, 2009. Wealth and Affluence 1 comment.

On Saturday, an auction in New York featured items once owned by Bernard Madoff. The auction raised over $900,000, beating expectations. Once combined with proceeds from another auction later this week, it’s likely that this money will go to investors who were burned by Madoff’s Ponzi scheme. Here are some of the items that received ... Continue reading this article…

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Investors in Bernard Madoff’s Ponzi Scheme

by Flexo on March 13, 2009. Investing 22 comments.

Bernard Madoff is on his way to jail, having plead guilty to defrauding investors in a massive Ponzi scheme. While his victims thought they were investing with a legitimate manager, Madoff simply deposited clients’ money in a Chase Manhattan bank account and paid “returns” to earlier investors from the contributions of newer investors. The ... Continue reading this article…

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Is Your Special Investment a Ponzi Scheme?

by Flexo on December 22, 2008. Investing 5 comments.

Here is how a Ponzi scheme works. The individual running the scheme promises abnormally high returns over a short period of time to the initial investors. These investors provide the start-up capital, and the schemer will do whatever he likes with that money, either invest it, spend it, or let it sit in a bank. ... Continue reading this article…

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