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“This is a giant fraud, a Ponzi scheme which we discovered two days after we were put into it,” Brandt said today in an interview.

I think they exposed themselves to a lot of middle class people who did believe in their system and they showed everybody the Ponzi scheme that it is.

The top 10 were: Madoff Got Cozy With SEC, Ran Ponzi Scheme on Creaky IBM Aug. 11 (Bloomberg) -- Bernard Madoff, the Ponzi scheme meister, isn’t the kind of guy who wins charm contests.

NEW YORK (June 29) - It was a crime of epic proportions: a multibillion dollar Ponzi scheme that wiped out fortunes, drained retirement nest eggs, ruined charities and foundations, and even pushed some investors to commit suicide.

NEW YORK - It was a crime of epic proportions: a multibillion-dollar Ponzi scheme that wiped out fortunes, drained retirement nest eggs, ruined charities and foundations, and even pushed some investors to commit suicide.

The SEC cited Madoff's alleged statements in December to senior employees of the firm that the business was "just one big lie (and) basically a giant Ponzi scheme ."

'Giant Ponzi scheme' The boom in parts of the Sun Belt was, Florida wrote in the Atlantic, a "giant Ponzi scheme" — a growth machine that banked on wishful thinking, on the hope that an unending stream of new arrivals would forever inject their money into construction and real estate.

The plea came three months after the FBI claimed Madoff admitted to his sons that his once-revered investment fund was all a big lie -- a Ponzi scheme that was in the billions of dollars.

The plea came three months after the FBI claimed Madoff admitted to his sons that his once-revered investment fund was all a big lie — a Ponzi scheme that was in the billions of dollars.

The FBI claimed Madoff admitted to his sons months ago that his once-revered investment fund was all a big lie, a $50 billion Ponzi scheme that wiped out life fortunes, school trusts and charities and apparently pushed at least two investors to commit suicide.