Madoff Clients Money Business People Taking Chances Good

Some investment schemes are "too good to be true" (promising so many good things that they must be impossible). That certainly "seems to be the case" (appears to be true) for the investments that Bernard Madoff recommended to his "clients" (customers).

Until recently, Madoff was a very successful businessman and fund manager in New York City. Many clients trusted him with their money. A few financial analysts "raised concerns" (said that they were worried) about Madoff's company, but most people ignored the "red flags" (warning signs) because they were happy to be making so much money.

Unfortunately, it seems that Madoff actually made his clients lose billions of dollars. In December of 2008, he was "accused" (said that one has done something wrong) of running a very large "Ponzi scheme," or a system where each investor is paid by the money provided by later investors, not from actual profits from companies that are invested in.

Madoff has been arrested for the "alleged" (something that people believe one has done, but that hasn't been proven in court yet) Ponzi scheme and thousands of clients have lost billions of dollars. The clients include individuals, banks, universities, and more. Some "foundations" (organizations that give money to other organizations for charity) have had to close because they lost too much money through their investments with Madoff.

Madoff's "case" (lawsuit) is expected to "go to court" (be presented for a legal decision) in March 2009. Thousands of people are waiting to see what will happen, but probably none of them will ever get their money back.