They said this dude was enthusiastic, exciting, and attractive like a magnet. He was beloved on Wall Street.
And he used Exclusivity (one of Dr Robert Cialdini's psychological triggers). You couldn't "get in on the investing" unless you knew someone on the inside.
Even though it's a really bad thing... there's something to say about how to get people to spend and invest unbelievable amounts of cash.
Ripped Off: Madoff and the Scamming of America