Ponzi was convicted of running the largest Bernard Madoff scheme in history . Madoff 's scheme fell apart with his arrest in December 2008 , and he pleaded guilty in federal court in New York in March 2009 to multiple federal counts of running the largest , longest-running Ponzi scheme ever . He cheated 262 of victims out of about $ 23 million . the Marshals Service Marshals Service is auctioning his belongings to compensate those swindled .
Ponzi was convicted of running the largest Bernard Madoff scheme in history . He cheated 262 of victims out of about $ 23 million . the Marshals Service Marshals Service is auctioning his belongings to compensate those swindled .