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12-21-2008, 03:50 PM #1
Immigrant, Father of "Ponzi" schemes
Charming con men behind Ponzi schemes
By Denise Lavoie 12:02 a.m. December 21, 2008
Charles Ponzi, seen in this 1920 photo, talked investors into sinking $10 million into a postal-currency scheme.
They're smart and charming. They have an aura of success about them and exude respectability. Above all, they instill confidence.
Which is, after all, why they are called con men.
Bernard Madoff, the Wall Street trader accused of running the biggest Ponzi scheme in history – $50 billion – dealt in more astounding numbers than others but shares many of the basic qualities of Ponzi swindlers through history, said law enforcement authorities and others who have studied such scams.
“They seem trustworthy because of their charm, their command of finance and the unshakable confidence that they portray,â€NO AMNESTY
Don't reward the criminal actions of millions of illegal aliens by giving them citizenship.
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