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Economy

How Madoff’s reputation protected his Ponzi scheme

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The fox wasn't just guarding the henhouse; he was actively chairing the agricultural committee. Bernie Madoff defrauded investors out of $64.8 billion over decades by using new investor money to pay old ones. He got away with it for so long entirely because he was a highly respected former chairman of the NASDAQ stock exchange, making everyone assume he was untouchable.

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How Madoff’s reputation protected his Ponzi scheme
STACKY / Economy
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