Jordan Maglich, counsel in the firm's Litigation section, was featured in Quartz article, “Bernie Madoff, dead at 82, still firmly holds a Ponzi scheme record.”
According to Jordan Maglich, a lawyer in Tampa who runs Ponzitracker, over the past five to 10 years, most Ponzi cases have led to total losses averaging $15 million to $20 million, while the median amount would be even lower. Madoff is an extreme outlier, he says. So too was his prison sentence: 150 years.
“You’re hard-pressed to find a financial fraud as egregious or massive as Madoff’s,” he says. It makes the size of the “vast amount of other Ponzi schemes I’m aware of and that I’ve tracked almost seem like a rounding error,” says Maglich, an attorney for Buchanan Ingersoll & Rooney, PC.