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I was wondering how he got into this, did he set out to run a ponzi scheme from the get go? Interesting to see that it was not like that. He was running an ho
by krupan 6y ago
I was wondering how he got into this, did he set out to run a ponzi scheme from the get go? Interesting to see that it was not like that. He was running an honest fund that ran into some trouble during a down turn. He convinced himself that he could just fudge things a little, just until the downturn passed and then he'd go straight again. Of course he never went straight again. Life lessons for everyone there.
- robotcookies 6y agoMadeoff's claim has always been that it was meant to be a temporary, short term thing and he believed he could get himself out of it before anyone else realized his fraud.
- JKCalhoun 6y agoYeah, that's a weak defense. I mean, "meant to be a temporary" means he knew it was wrong/illegal. He gets no pass for that.