This is arguably the biggest con of all times: It is the pyramid scheme of former stock exchange chairman Bernard "Bernie" Madoff. Over 50 Billion U$ have disappeared, see these BBC reports: 1, 2.
The old adage holds true: If it's too good to be true, it's not true. This should be a wake-up call to all people investing into HYIPs, and other investments that promise high returns. These things are just plain fraud. In case of Madoff, he got away with it for so long, because he "only" offered 10% in return. But as can be seen, even in this case it was a scam.
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