In this episode, we explore the fantastic scheme conducted by Charles Ponzi, who became the namesake of the “rob Peter to pay Paul” fraud scheme. In 1920, Charles Ponzi went from pauper to millionaire to prisoner under the guise of trading international postal reply coupons. Ponzi schemes continue to persist and we move from 1920 to 2008 to discuss the massive Bernie Madoff Ponzi scheme with our special guest, forensic accountant, Marty Wilczynski, who was the co-leader of the consulting team providing investigative and litigation support to the trustee and his counsel on the landmark Bernard L. Madoff Investment Securities SIPA liquidation. Along the way, we discuss the financial devastation, lessons learned and highlight red flags for investors to consider to stay fraud-free.

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Host: Jim Barratt

Website:

Barratt Consulting Group

LinkedIn profile:

Jim Barratt, CPA, CFF | LinkedIn

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Special Guest: Martin Wilczynski

Website:

Martin Wilczynski - Ankura.com

LinkedIn profile:

Martin Wilczynski | LinkedIn

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To learn more about Charles Ponzi and Bernie Madoff:

“The Rise of Mr. Ponzi”, The Long-Suppressed Autobiography of a Financial Genius, by Charles Ponzi, Copyright 2009, Despair, Inc.

Charles Ponzi, The Documentary, YouTube, Patrick E. Boyle, 2020

“The Wizard of Lies: Bernie Madoff and the Death of Trust” by Diana B. Henriques, St. Martin’s Griffin, 2011

The Wizard of Lies, TV Movie, HBO, 2017

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Voiceovers by Cat Stratakis.