The Bernie Madoff Scandal - A Simple Overview

The first rule of investing...

If something is too good to be true, it is.

Bernie Madoff was a complete fraud.

Slight correction; this isn’t the longest Ponzi scheme. That honour goes to Lou Pearlman; the scam artist behind the Backstreet Boys and NSync. For his crimes, he got 25 years in prison and died in. 2016 of cardiac arrest.

I don't get why people insist on not liking his wife. If she didn't know and was benefiting without knowing that is not her fault

It's nice you start off trying to get people to understand the significance of his name, Bernie Madoff I mean, fuck he literally was the living legend literally! His Wang made of platinum because gold is for the plebs, and he, if he for whatever reason so wished, could give you a taste, 😜

Hi

Have you looked into and started accumulating information on Mini Madoff or aka Sam Bankman Fried??

Ftx has entered the chat..lol

i 100% care about my bernie baby

i actually like bernie madoff, he's a legend. he robbed the other crooks who were robbing the poor, may bernie madoff's soul rest in heaven

No no mantadevi army moi phai la chong my co 1con gai 9 tuoi vo bi chet tai nan xe

I can care less about the celebs. All they gotta do is make a few movies. It's the average Joe that's screwed out of retirement that I feel bad for.

Madoff was a scumball. There's no other side of any story.

Bernie made off has the biggest Ponzi scheme

Sam Bankman Fried : Hold my beer

I have been saying the following statement for many years. The number one rule of survival is NEVER TRUST ANYONE! This is particularly true when it comes to your hard-earned money. NEVER TRUST ANYONE!

If Madoff Securities was a ponzi scheme than so is social security

Bernie Madoff made off with other peoples money 💵💰💸

I have an important message to share with you all. I recently fell victim to an online Ponzi scheme scam where I was asked to send USDT for daily investing. But they disappeared along with my money. I had a chance to ask for help from focusutensil and got my money back. You’re should be careful out there please .

I wish I had known about his possessions being sold. Wouldn't have minded paying a couple hundred dollars for monogrammed cocktail glasses or something similar. & I would have been very happy if I knew that my $ would've gone to one of his elderly, newly destitute victims so he/she could buy groceries, medicine, or some other life necessity that they otherwise could not have afforded.

Imagine his wife wasn't actually involved. Talk about having your world fall apart around you.

You forgot an important part of the scandal. The greedy feeder funds that did no due diligence and reaped several millions from the fraud.

“I don’t like this guy”
Me: damn that’s rude
“Because he scammed a bunch of people”
Me: damn that’s even ruder

Watch "Madoff: The Monster of Wall street"

Madolf's ponzi sceem doesn't hold a candle to our governments ssi ponzi sceem.

For starters, I'm floored that someone could even have one bank account that has literally billions of dollars in it. That in of itself should be suspicious.

This is a pretty tragic story. The sons are dead, the father dies in prison, and I can only imagine what the wife was going through while all of this was progressing.

He could had fund a bank, and there do lawns and buy realstate, then really invest the money and win some clean money.

liar, you didnt have a flip phone in 2004, you're like 25.

i don't think his wife knew what he was doing and simply was in the dark....but i think the sons probably knew something was going on but were not directly involved.

RIP Madoff

I heard about this man, BECAUSE of the "made off" jokes. I saw the thumbnail & title of this video, and I was like, oh yeah, he's a POS too. What did he do. *Tap

The wife was a bookkeper for awhile for the company.

No way hes called "made off" and hes a robber... They expect us to believe this shit??!

its not clear to me how is this a ponzi schema. If market went down a lot of people lost money s onothing special with bernie madoff fund. If I take money and distribute it then it is still fine. I agree the fakle statements definitely a red falag but there must be a better explanation than this.

Wow. Crazy how people are so gullible

😮😮I never understood how this kind of return made any kind of sense. So sad.

Social security is the largest ponzi😂 of all time.

Madolf and "made off" is over used but I think the biggest for me is how he looks just like Benjamin Franklin which obviously is on the 100 bill

Basically he was telling everybody they were making crazy money when really they lost everything! If your return is super high you’re never gonna pull out and that’s what he banked on!

If Madoff TRULY had developed a means of generating consistent returns via an investment strategy, why would he sell it to others? Why wouldn't he have simply employed that vehicle using his own resources, quietly amassing a great deal of personal wealth?
I harbor this question for "investment advisors." If the "investment opportunity" you are determined to sell me is so great, why are you working at a job right now?
P.S. Weekend at Bernie's. Wish you hadn't mentioned it. Every time I run across that movie on TV, wherever it is in the story, I just cannot resist watching the whole rest of the thing to the end. One of the stupidest funniest black comedies ever made!

Amazing how many seemingly smart people accepted that am investment never had a down quarter

People lose money in scams all the time, and the federal government doesn’t care, and they definitely don’t help the victims recover their money. Why is this case different? It feels like the only difference is that they are rich.

The Wizard Of Lies is an easy insight into what went on. No one knows Madoff better than Diana Henriques.

Hey, Bernie Madoff with my money!