Madoff's Ponzi Scheme

I feel in the beginning Madoff was being an ordinary businessman and stockbroker. After he gained trust of many individuals, he probably became more comfortable with other people’s money than he should have. As far as the Ponzi scheme, I don’t think Madoff originally planned to be a scammer. I think he thought he could keep the money circulating as he made partnership with new investors. As business progressed with those who were much wealthier, he more than likely felt that there was so much money being moved around that no one would notice if he moved some into his accounts and used it for his own personal use either. No one planned for the stock market to crash in 2008, so this is when people needed their money most, Madoff wasn’t able to supply it.

It’s apparent that $65 billion is a lot of money and Madoff had been performing the schemes for quite some time to tack up that much in fraud. Since investigators were only able to recover about $1.2 million of the $65 billion loss, Madoff was more than likely able to make fake accounts and off short accounts. It’s obvious that Madoff was able to supply his family and lifestyle with the monies stolen from the investors. The family including Madoff’s wife drove luxury vehicles, wore expensive clothing, and lived in a large homes. Even though Mrs. Madoff was forced to give back $85 million, she was still left with $2.5 million. She can live comfortably if the money is spent