4 ms·

> So did Bernie. No, he just straight up didn't invest peoples money, he paid out "gains" just from other deposits. That's why it was a Ponzi scheme - that's w

• NickC25 4y ago
  Initially, he did invest their money, he just didn't get the (I believe it was) +/- 10% that he promised investors (and was getting like clockwork) before the 08 crash. Once he started not being able to make those returns did thing start to unravel. His own kids were in denial right up until the end - almost nobody, even inside Bernie's firm, knew it was fraudulent.
  • IanCal 4y ago
    He hadn't been doing any trades for 15+ years when it all fell apart.
  • JackFr 4y ago
    > almost nobody, even inside Bernie's firm, knew it was fraudulent. It’s amazing what you can fail to know when not knowing it keeps you out of jail.
    • svnt 4y ago
      It helps if you sleep in fits on a beanbag and play League of Legends with every spare brain cell.