His social status makes it hard to doubt that Madoff is the former chairman of Nasdaq, and his status aura makes many customers blindly believe and follow him. Before his scam was exposed, his people had been predators in the investment field and business elites in charity. It is precisely because of the endorsement of these identity auras that he can easily gain the trust of customers and is not easily suspected.
Madoff's precise control of human nature is beyond many people's understanding. Why did many elites fall for Madoff's tricks and be defrauded of countless funds by him? In fact, I have to mention Madoff's control over human nature. Through his own operation, he built an elite staff for himself, which made many people proud of investing in Madoff. For many rich people who are not bad at money, it doesn't matter whether they make money or not. Investing in Madoff has become a status symbol, so so many elites have been fooled.
Madoff is good at creating mystery. If Madoff makes a splash after defrauding funds, he may be discovered soon. But he kept a low profile and was good at creating mystery, which enabled him to hide the scam for a long time until his son reported it.
Although Madoff is dead now, similar Ponzi schemes in the market have never been eradicated. I hope that everyone will keep their eyes open when investing and don't fall into the quagmire of the plan. These are all Bian Xiao's views on this matter. If you have different opinions, you can leave a message in the comment area for discussion.