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The Madoff Scandal – A Ponzi Scheme
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The objective of this assignment is to consider the essential elements of a Ponzi scheme, understand how and why the Madoff scheme was perpetuated and lasted so long, and how to avoid becoming a victim of this type of fraud.
This assignment should be 1000-1500 words in length, in APA format, and include the following:
- A description and history of Ponzi schemes.
- The essential elements of a Ponzi scheme.
- Background on Madoff and his scheme.
- The reasons Madoff’s fraud lasted so long.
- The SEC’s actions and role in the case.
- Red flag indicators of a Ponzi scheme.
- Actions to avoid becoming a Ponzi scheme victim.
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