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Do YOU HAVE A CLIENT THAT LOST MONEY in the Bernard Madoff Ponzi scheme? A Ponzi scheme is defined as "an investment swindle in which some early investors are paid off with money put up by later ones to encourage more and bigger risks" ( Merriam-Webster's Collegiate Dictionary 964 (Merriam-Webster 2003)). Madoff is alleged to have done just that until, in 2008, an increase in requests for redemptions from his investors caused his $50 billion pyramid to collapse.
