Write a paper in which you address the following:

1. A description and history of Ponzi schemes.

2. The essential elements of a Ponzi scheme.

3. Background on Madoff and his scheme.

4. The reasons Madoff’s fraud lasted so long.

5. The sec’s actions and role in the case.

6. Red flag indicators of a Ponzi scheme.

7. Actions to avoid becoming a Ponzi scheme victim.