Summary
Given what's being called the biggest case of financial fraud ever committed by one person in American history, I figured that things would be different this year during our annual spring break trek to Palm Beach, ground zero of Bernie Madoff's alleged $50 billion Ponzi scheme.
As a footnote, Charles Ponzi, an Italian immigrant, advertised in 1920 that he could deliver a 50 percent return for investors in 45 days. Within several months, Ponzi had pocketed tens of millions of dollars from people who had turned over their life savings or mortgaged their homes to invest.See the full content of this document
Extract
Madoff's Riptide at Palm Beach
"If there is an epicenter to this unnatural disaster, it's Palm Beach, Florida, where Madoff had a home," explained BusinessWeek writer John Donovan. "Many wealthy members of the Palm ...
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