Personal Finance: To avoid scams, listen to an expert - Madoff

photo Chris Hopkins

It seems that each week brings news of another financial con game to bilk unsuspecting investors out of their hard-earned savings. While the eponymous Ponzi scheme traces its roots to the 1920s, crooks have been refining the business of scamming investors since time immemorial. So when it comes to advice on how to protect your nest egg from would-be thieves, it pays to listen to one of the most notorious schemers of them all: Bernard Madoff.

The infamous swindler is now five years into a 150-year prison sentence for his role as mastermind of the largest Ponzi scheme in history, which cost investors $50 billion. He recently gave an interview to financial website Marketwatch.com