Who Eneded Up With All The Money In The Madoff scandal?
Question by kingof a: Who Eneded Up With All The Money In The Madoff scandal?
If Madoff doesn’t have it, then where did it go? Think of money being dropped into a jar with people in it. The people spend the money, but someone swindles it from them. Where did the money go?
Best answer:
Answer by ACHE
He lost it all
Know better? Leave your own answer in the comments!
Usually with these types of schemes, B’s money is given to A, C’s is given back to B, D’s is given back to C, and so forth. The problem is when you get to Z, there is no one left to pay back Z, and the bubble is popped. This is why pyramid and Ponzi schemes are illegal. Sooner or later, there is no one left to keep the cycle going and whoever is at the end will lose everything.
The people at the top of this pyramid. The poor people at the bottom join and pay up.
you always need another “PATSY” in line in order for this PONZIE scam to work. When he coulnd’t con anymore people that was the end of the scam and him. He should have invested some of his money into a villa in brazil and a new identity, he wasn’t to smart when it came down to his exit stratigy. That is the oldest and easiest scam in the world
Yeah!
Who madoff with all the money?
Hope you and yours have a wonderful holiday! Merry Christmas!
Good one, Yaya , Merry Christmas one and all.
The early investors received some, the market sinking made much of it evaporate.
To his family and friends.