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omfgTALIjustIMDu's avatar

What exactly did Madoff do, and how?

Asked by omfgTALIjustIMDu (9272points) March 22nd, 2009

I’m no entirely sure I understand what a ponzi scheme is, or what Madoff did (in other words how he stole the huge amount of money he did). Can someone explain it in simple english, as in one of the “____ for Dummies” books?

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