No one, including me, knew Madoff was running a classic Ponzi scheme - paying off old investors with money from new investors - to the tune of $65 billion. His theft is considered the largest financial scam in U.S. history, and the impact was global. Vaporizing billions of dollars worldwide, including the funds of philanthropies, charities, celebrities, and ordinary mom-and-pop retirement portfolios, Madoff used some simple con-man magic tricks to pull off a monumental fraud.
For those unfamiliar with the scheme, Madoff's fund never invested a single dollar in the markets.
Instead, the money sat in a checking account at JPMorgan Chase. Madoff and his crew of flunkies never made a single real trade. Instead, they created profits out of thin air, then printed and mailed out phony paper statements to clients every month,real cheap jordans retro, starting in the 1970s.
Among those who helped perpetuate the decades-long crime were right-hand man Frank DiPascali Jr. (played by Michael Rispoli),cheap jordans for sale,