Madoff used own reputation in the industry for manipulating the people. Madoff used to be an honest businessman and a respected trader who took advantages of the investors. In this way, he played with the trust and loyalty of his clients. Whatever Madoff did was unethical and illegal as he lied to the investors as well as to the clients for his own profits. Even the practice of the Ponzi scheme was illegal and unethical. This Ponzi scheme can be considered as a fraudulent investment operation that involved the basic payment of the interest of the investors (Weiss, 2014). This particular scheme was not a part of the financial instrument, money can be achieved only if there are new consumers. The scheme collapse if there is no new clients.