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Thread: The ex-chairmen of NASDAQ Stock Market is involved in a fraud!
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[quote=FRANKENSTEIN,345861]Bernard Madoff, the former chairman of NASDAQ Stock Market was arrested for being accused of masterminding a Ponzi Scheme of 50 billion dollars by FBI. If it was proved, he would stay in prison for 20 years imprisonment and pay for 5 million dollars fine. According to US SEC, Madoff had admitted his crime to the FBI. Meanwhile, he had prepared for being sent to the jail because he was broke already. Now, he was released on bail of 10 million dollars and his house but refused to make any comments. Perhaps, this is the biggest fraud in US history. What do you think of its effect to the US and world stock market? What is Ponzi Scheme? Ponzi Scheme is invented by a guy who was called Charles Ponzi. In 1919, he cheated the investors and persuaded them to invest in a company that actually didn't exist by promising them that they will get about 40 percent reward. He paid the new investor's money to the old ones to attract more investors. Later on, such a fraud was named "Ponzi Scheme". [/quote]
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