On April 27, 1937 the U.S. Social Security system made its 1st benefit payment.  This is very significant because 72 years later the system is still "working".  But watch out, the Madoff Ponzi Scheme was nothing compared to Social Security. The last payment isn't too far off... we'll just need a "bailout" to keep the largest Ponzi Scheme of all time, known as Social Security, alive.  Don't count on it.

Bernie Madoff's Delta Club Gold Section Mets Tickets for Opening Day sold for $7,500 on eBay. Seventeen different eBayers bid on the tickets, with the final amount of bids ending at 68.  Two parties battled it out in the final hours with one lucky (or stupid) eBayer finally taking home the Ponzi Scheme master's opening day tickets.  The game is tonight at 7:10 pm Eastern time.  Tune in and look for the people in Secion 11, Row 8, Seats 5 and 6.  They'll be sitting in the tainted, smelly seats of Bernie Madoff.

Check out the actual auction here: Madoff Mets Tickets on eBay.

According to The Wall Street Journal there are reports of a self-proclaimed "Chinese Warren Buffett" involved in a multi-million dollar Ponzi Scheme.  If you don't know what that is by now you're probably pausing to look down at your vibrating neon pink pager.  Get with the program.  I provided a link just in case.

The SEC has charged Weizhen Tang, also a Tangerine flavored beer, for allegedly running a Ponzi scheme through a Canadian-based hedge fund (Oversea Chinese Fund LP).  He was  rolling with $50 to $75 million from over 200 investors... must have been some high net worth individuals. 

Mr. W. Tang provided false profits on investors' account statements and used the cash from new investors to return principal and pay more than $8 million in "here's someone elses money" profits to other investors.

The SEC is still investigating.  Where were you when he was sending out the fake statements?  I'm hoping a similar video of W. Tang shows up soon.