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On March 12, 2009, Bernie Madoff admitted to orchestrating the largest Ponzi scheme in history, defrauding investors of a staggering US$65 billion (equivalent to A$153 billion today). Madoff, a prominent financier, lured individuals with promises of extraordinary returns, skillfully fabricating evidence to support a seemingly sophisticated investment strategy. His remarkable reputation on Wall Street even earned him the position of chairman of the NASDAQ stock exchange. However, behind this façade, Madoff was merely funneling the invested funds into his personal bank account instead of engaging in any legitimate investment activities.