Bernie Madoff, successful businessman and former chairman of the NASDAQ stock exchange, has been catapulted to the front of the line in the Scam Artist Hall of Fame by artfully engineering the largest investor fraud in history.
There are a couple of obvious but totally overlooked facts in this amazing and highly publicized story. First, Bernie Madoff is a senior citizen (age 70); secondly, and more importantly, many of his wealthy victims are also senior citizen (well, they were wealthy until they entrusted their money to Madoff Investment Securities LLC.)
These facts may seem of little importance, but consider this: it is estimated that 80 percent of all victims of scam artists are senior citizens. Perhaps the number one reason for this is that today