After both watching the new Netflix docuseries on Bernie Madoff, Sam and Derek decide to dive deeper into the art of the Ponzi Scheme. They discuss how they came about and go over some of the biggest financial fraud cases in history. This is part one of a two episode run on financial fraud and ponzi schemes. ILAB 274 will feature an expert with tips on how to spot fraud in your investments.   Discussed:  Watch Madoff: Monster of Wall Street on Netflix Where we are: Johnny FD – Phuket, Thailand / IG @johnnyfdj Sam Marks – Bangkok, Thailand / IG @imsammarks Derek – Los Angeles / IG @DerekRadio Sponsor: Nom Nom At Nom Nom, we make food that looks like food. Tailored to your pet’s exact needs and backed by years of scientific research. Get 50% off your first 2 week trial when you visit trynom.com/ilab Like these investments? Try them with these special ILAB links: Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK) *Johnny and Sam use all of the above services personally. Invest Like a Boss Patreon Help support the continuation of Invest Like a Boss by becoming a Patreon! Plans start as low as $5/month and give you instant access to years of exclusive content, including portfolio access, trade alerts, bonus episodes & more. Join now at Patreon.com/InvestLikeaBoss. Time Stamp: 06:49 - What's Considered a Ponzi Scheme? 08:11 - Charles Ponzi 12:11 - Enron 20:15 - Tom Petters 27:54 - Allen Stanford 31:25 - Bernie Madoff If you enjoyed this episode, do us a favor and share it! If you haven't already, please take a minute to leave us a 5-star review on Apple Podcasts and Spotify.