Bernard Madoff $50 Billion Ponzi Scheme

[Jeff.Mitchell]

John, yes, I know why "most people" are reluctant to express grave concerns when they spot a possible scammer. But many of us here are not like "most people". I'm suggesting that if we assume there are more Madoffs out there, why not find him/them ASAP?

First off, I'd look at the same red flags that should have been apparent with Madoff, the three most prominent of which were: 1) the ability to have amazingly high and consistent returns, 2) a strategy that was both hard to explain and hard to emulate by those who thought they understood it, and 3) someone who has shunned public disclosure and avoided using a reputable auditor, if any.

Surely we can find another person who fits the bill?

- Jeff