TO DESCRIBE Bernard L. Madoff's alleged securities fraud as a Ponzi scheme is a bit unfair to Charles Ponzi, the legendary swindler of the post-World War I era. Their methods were roughly the same: like Ponzi and his "postal reply coupons," Mr. Madoff reported phantom returns from supposed stock ...
Swindle of the Century
TO DESCRIBE Bernard L. Madoff's alleged securities fraud as a Ponzi scheme is a bit unfair to Charles Ponzi, the legendary swindler of the post-World War I era. Their methods were roughly the same: like Ponzi and his "postal reply coupons," Mr. Madoff reported phantom returns from supposed stock ...