Luxury Inside - April 2022 - Offroad in heels - 6
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In order to compete with large investment firms Madoff turned to technology. His firm pioneered the use of electronic trading, opting away from the historic human traders. With this focus on technology the company was able to provide a lower cost for their services which led them to have a substantial share of share market transactions. He had spent decades building his multibillion-dollar empire until one day the house of cards fell and all that remained was a decade of lies as he had stolen $65 billion, ‘the largest Ponzi Scheme the world had ever seen’.

 How does this Ponzi Scheme work ? The person who runs a Ponzi offers their first investor high returns on their investment they then find new investors and give that new money to the original investors; so it’s like they continue pumping in new money and dumping it to older investors all the while of pocketing their own cut until there’s no more new investors then the scam dries up. In other words they rob one person to pay another person. Paul Charles Ponzi was the first person to run the scheme hence it being called the Ponzi Scheme.
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Highlights

From the Editor - Ruchika Rawan

From the Editor - Ruchika Rawan

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