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Famous Victims of Bernard Madoff

billkozyBillkozy on 04/03/2009

FamousVictimsofBernardMadoff Photo He faces 150 years in prison for bilking a total of 4,800 investors of $65 billion. He did it with a Ponzi scheme, so named for Charles Ponzi, a man who scammed thousands of New England citizens during the 1920s. In a typical Ponzi illegal pyramid scheme, investors are paid not from profits but from their own money and additional monies paid into the "club" by new investors lured in by the promise of large returns of their investment.

Starting in the early 1990s, Madoff promised investors big returns based on purchases of common stocks, options, and securities. What he really did though was open an account at Chase Manhattan, and deposited the investors' money. When a client would request his/her principal or interest, Madoff would simply withdraw that amount from the bank. He charged clients 4 cents per trade on their "stocks" creating false trade reports and monthly statements. To hide his deeds, he filed false audit reports with the SEC. He transferred money to a London company that he set up, in order to make it look like he was also trading in European stocks.

Who were some of the more famous of the 4,800 victims? Here are some of them, featured in this quiz.
Good Luck, and please rate the quiz afterward if you have a chance. And in return, I promise big returns on your quiz ratings...
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10 Questions

Rating:  (8.03/9)
Difficulty:  Difficult
Taken: 66 times

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Daveguth 250100.00%    210.64 seconds    
Dasfunk 178100.00%    430.32 seconds    
Kitch 17890.00%    240.24 seconds    
Gotcha1 790.00%    744.32 seconds    
Majicmarty 22180.00%    127.16 seconds    
Kateatebate 22770.00%    176.56 seconds    
Foogs 26470.00%    216.74 seconds    
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Nando53 19970.00%    431.42 seconds    
Stemk 6460.00%    123.02 seconds    

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