Bernie Madoff used a scheme in his fraud schemes.

Question

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Bernie Madoff used a Ponzi scheme, which is a type of investment fraud that involves paying early investors returns with the capital raised from newer investors, rather than from actual profits. Madoff promised high returns to his clients, but in reality, he was using new investors' money to pay off older investors, all while pocketing millions for himself. This scheme eventually collapsed, causing massive financial losses to investors.

Bernie Madoff Used a Scheme in His Fraud Schemes