In the simplest terms, Madoff’s scheme worked like this: he would encourage people to invest with his firm, but instead of actually putting their money in the stock exchange, he’d put it into his personal bank account. Then he’d make up fake stock reports that showed his investors getting an incredible return on their money. He guessed correctly that as long as people saw their money growing at above-market rates, they would keep it with him and let it ride.
Like what Mikee did to me
