money.The people who gave Mad off their money also didnt think anything was wrong because he paid them every month.
One day,Mad off didnt have enough money to pay all the people he needed to pay.Thats when people discovered how Madoff worked:He was taking money from some people to pay other people, just the way Charles Ponzi did.However,this time,instead of losing millions of dollars,people lost billions.
Madoff was accused of fraud,and United States government officials arrested him.He didnt have to go on trial because he said he was guilty.In 2009,a judge sentenced him to 150 years in prison.Bernard Madoffs crime was even bigger than Ponzis.It was the biggest fraud in history.The lesson of this story is clear:When something seems too good to be true,it probably is !
For every$100 Ponzi promises to pay people__________.
A.$5 a year
B.$40 a year
C.$20 a year
D.$100 a year
37、 What did Ponzi do with the money people gave him?
A.He spent it all on things for himself.
B.He used some of it to pay other people.
C.He deposited it all in a bank.
D.He kept it all to save for a good plan.
38、 What was Ponzis crime?
A.He kept a lot of other peoplesmoney for himself__________.
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