Canonical · Fraud & Short Cases · Report
The World's Largest Hedge Fund Is a Fraud
Harry Markopolos · 2005
"Bernard Madoff's impossibly smooth returns are mathematically inconsistent with any real strategy; the fund is either front-running or a Ponzi scheme."
In 1999, financial analyst Harry Markopolos realized that Bernie Madoff's impossibly consistent returns could not be replicated mathematically. He alerted the SEC multiple times that Madoff was running a massive Ponzi scheme, but was ignored for nearly a decade.
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"Nikola is an 'intricate fraud' built on false claims about its technology, including a truck rolling downhill in a video."
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