11 That investment manager Bernard Madoff’s hedge fund Ascot Partners was a giant scam will likely be the fi nance story remembered from the last decade. It is estimated that Madoff stole an estimated $50 billion from noteworthy individuals and institutional investors, and he covered the crime by creating fi ctional fi nancial statements for each investor.

If you were an institutional investor, how might employing scientifi c attitude and scientifi c method have protected your organization from this Ponzi scheme?