I looked into Bagger's story but it looks very different, that one seems to have been a scam from day 1.

I don't know why but I'm awaiting the investigation result for Maddof cause I don't think it started as a "ponzi" scheme.... as the money flew in, it got too big, when losses showed up, didn't how to handle the situation, money kept flowing in, too easy to hide the losses, that's when it may have started to be fraudulent...