Bernard L. Madoff, former chairman of the NASDAQ Stock Market, was arrested on December 11, 2008 and charged by the FBI with securities fraud. The FBI claimed that Madoff told a senior employee that his 20-year investment advisory business, based on complex option trading strategies, was in fact “a giant Ponzi scheme”, with estimated losses of a stunning $50 billion. In Ponzi schemes, early investors are paid above-average returns, which in reality come from funds contributed by later investors.In order to avoid losses from Ponzi-type investment scams, doctors should take the following steps:
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