Madoff And The $65 Billion Scamming Of America

In this History Channel documentary the focus is on Bernard Madoff a former chairman of NASDAQ who ran the biggest known Ponzi scheme in history. Madoff had worked in Finance all his life and was trusted, seen to be a genius people were queuing up to invest even though they didn't really know what they were investing in. Financial Experts, Journalists and some of those stung for millions of dollars talk about the ordeal that in total cost investors around $65 billion. So just what is a Ponzi scheme ? How did Madoff get some of the richest people including celebrities and sports stars to invest and what happened when it all came crashing down ?