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Discovery Channel
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Bernie Madoff is famous for having perpetuated the biggest swindle ever recorded. He scammed $50 billion from investors over a decade by running a Ponzi scheme on an unprecedented scale. A Ponzi scheme, named for Charles Ponzi, an early high-profile perpetrator of the scam, involves taking money from people and promising high returns. Instead of investing the money, the scammer simply takes money from new investors and pays it out to earlier investors, as if his investments had actually made money. Of course, Madoff, like all Ponzi schemers, kept a fee for himself. What was particularly galling about Madoff's racket is that he was once chairman of the NASDAQ exchange. He was able to pull off the most successful Ponzi scheme in history exactly because he had the credibility of a financial expert.
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Did the Chinese discover America?
Answered by Discovery Channel
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Did Lincoln draft other anti-slave legislation?
Answered by Discovery Channel
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What historical documents are held at the Bodleian Library?
Answered by Sarah Thomas
