Ponzi Schemes

Bernie Madoff (1938-2021) was a financier who committed one of the biggest Ponzi schemes in American history. For almost 20 years, millions of investors put their trust in Madoff and financed their life savings and retirement. Unfortunately, those same investors lost billions of dollars once the scheme was exposed. In this assignment, you will explore the implications of his scheme. Step 1: Watch: The Man Who Stole $65 Billion (Bernie Madoff) (https://www.youtube.com/watch?v=gDqGSmTPtOQ&t=132s) Step 2: Watch: Bernie Madoff Dead In Prison At 82: Looking Back At His Ponzi Scheme Impact | NBC News (https://www.youtube.com/watch?v=_dKziZfLt0s)Step 3: Respond to these questions: 1. Who do you think was responsible for the losses incurred by investors? 2. When investors received their statements, what responsibility did they have to review and understand them? What signs could they have picked up on to alert them to potential problems?

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