On Dec. 11, 2008, Bernard L. Madoff confessed that his investment business was all “one big lie,” a Ponzi scheme that cost …
Title: Unraveling the Madoff Affair: A Timeless Lesson in Fraud and Deception
In the era of increasing financial scandals and investor skepticism, the story of Bernie Madoff's Ponzi scheme remains a chilling reminder of the devastating consequences of unchecked greed and deception. In a new documentary by FRONTLINE, 'The Madoff Affair', the intricate web of lies and deceit that Madoff spun over decades is laid bare, offering a gripping account of one of the most significant financial crimes in history.
The documentary, first aired in 2019, provides a comprehensive overview of the Madoff affair, delving into the lives of the victims, the investigators, and the man at the center of it all. While the story is not new, the documentary offers fresh insights and interviews, shedding light on previously undisclosed details and the ongoing impact of Madoff's actions.
At the heart of the story is Bernard Madoff, a Wall Street legend turned infamous con artist. Madoff, who died in prison in 2021, ran a Ponzi scheme that swindled an estimated $64.8 billion from thousands of investors over 17 years. The scheme, which promised unrealistic returns, relied on the constant influx of new investors to pay off existing ones.
The documentary explores how Madoff was able to evade detection for so long, despite numerous red flags. It highlights the role of regulatory failures, the complicity of some of Madoff's associates, and the trust placed in Madoff by high-profile investors. The documentary also delves into the emotional toll the scandal took on Madoff's victims, many of whom lost their life savings and retirement funds.
'The Madoff Affair' serves as a cautionary tale for the financial industry and investors alike. It underscores the importance of due diligence, transparency, and regulatory oversight in the financial world. The documentary also raises questions about the ethics and accountability within the financial industry, issues that remain relevant in the wake of recent scandals such as the collapse of FTX.
In conclusion, 'The Madoff Affair' is a compelling and timely documentary that offers a comprehensive look at one of
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44 Comments
Top Tart???? 8:00
Remorse? He didn’t have remorse for crooks.
Bienes is full of sht😢
😮
3200 is indeed more than 15
I don't know how people sign into deals based on word by word accounts and don't know how their repertoire is managed
Jews would sell their mother to make a buck
wow
People within the SEC were receiving payouts and that much is certain ,there is no way someone is that stupid or negligent. I 100% believe payments were sended in all directions
His friends are scumbags too
See why this was never going to court? He had every wealth fuk around the world caught up. The SEC let a crook manage billions and never asked a question. Hiding in plane sight. Had royal families caught up.
Bernie was using A.I.
8:34
9:01
LJ 10:16
15:08
I mean ,,all these people say the most dopey stuff during are time why I mean Why isn't the smarts of people thinking & say denial of = I DIDN'T BELIEVE THAT HAPPENED??? IN THESE TIMES EVERYTHING IS POSSIBLE IN THIS WORLD!!!! & all I still here in all bad news there not getting it,, = from these words = seriously = really = it came out of (nowhere)= & sareal=&(it never happened before in my neighborhood)& we worked side by side, = & ( he's / she /is no killer) it's sad cause all this delusional thinking is going to be these people & next victims or sucker,, & if it's money criminals love these people it's like a job to them & it's your money for there pay checks, EVERYTHING IS POSSIBLE,,
Apparently no one new how to do math back then
Give me your money and give you an i.o.u. 😮😢
Sam Bankman Fried going to prison brought me here.
Why? Because he was protected. If it went bad he gets the blame. It’s all gambling anyway.
Madoff made off with Rich people’s money which is why he was finally stopped.
What a waste of people. I watched the very well done and interesting Netflix docu last month. As a Catholic Christian Wall Street to me is really Mammon´s Kingdom. Mammon´s is one of the seven major authorities in hell condemned by Jesus himself. "You can´t serve Mammon and God at the same time". Now, I don´t believe in actions, in stock exchange, stock markets and etc; everything that comes in an easy way is wrong. I believe in savings and hard hard working and accounting to keep good straight record of expenses and organize finance life. My personal wealth is my health, family and my both hands and of course my education to get ONLY what I need for living a decent life. "Ora et labora" means work hard and pray. As a Christian I know that transactions as lending money and receiving taxes from it is condemned by God. Greed is one of the most powerful evil sources in humanity but it rules the world. I don´t want to offend nobody; I was once in New York with my husband and its really a very beautiful city, but is also a very superficial capitalist one. When I see all those Wall Street brokers going and coming everywhere in those offices, comes in my mind immediately a picture of devils working diligently for Mammon. I just can´t help it, sorry if my comment ofend somebody. it´s just my personal opinion.
Greed, foolish greedy people i have no sympathy for these people.
It's the poor that suffer
If you did not have the EXTRA Money to invest, you could have NEVER been scammed ! 😅😂😂😂😂😂 No empathty for GREEDY humans !
I can't get ppl to give me $20
It is always a red flag when you are not allowed to ask any questions.
Ty
I'm a CPA. Any CPA 10:25 knows enough about investment returns to know a sustained return of 18 percent in the 1990s was too good to be true. He should have understood how it worked .
Greed clouded everybody's judgment. Everybody knows, you cannot get inestment always having positive income and never loosing. That scenarion never exists in real life. But people who were getting paid high returnes on their investements never wanted to know and did not ask questions.
GREED
Rich people problems
During the Weekend at Bernie's looks like he made off with alot of money
People blamed all of Madoff's crimes on him and his family. Every individual who invested with him was a greedy leach. No matter how much they had, they wanted more. Some were warned but they didn't listen. "People" (animals) wanted the wife and sons to suffer. Why couldn't they accept the fact, or even the possibility that they didn't know about the crimes. The sons and wife were "guilty" of innocently enjoying the wealth as it came in. Madoff was guilty, but so was every individual that used him to make them MORE MONEY. If he didn't have that to offer, they would have "kicked him to the curb." THEY were just as disgusting as he was. THEY and the media were guilty of Mark's suicide.
I was an early investor of Madoff….something told me things were not right. There was no way my portfolio NEVER had a loss and consistently returned atleast 20% monthly.
A few years before things went belly up I sttempted to withdrawl all my money from his firm.
I was convinced he was going to give me the run around. Suprisingly he actually sent me a check for the full balance and I deposited it and it cleared.
Later down the road when the 2008 economic crash hit everyone rushed to withdrawal there funds and the gig was up.
I am so fortunate to have seen the writing on the wall before hand. I cant fathom how his victims must feel. Had I not cashed out I would have lost everything and been in the poor hoise to this day.
And yet your government has more than enough money to fund zionsim😂
Greed!
🤔 has it NOT been for the 2008 financial crisis he NEVER would have been caught & the PONZI SCHEME could have went on for another 30 yrs!!!! ALL his clients KNEW something wasn’t on the up & up but they were BLINDED by pure GREED!! The fact that he was NOT REGISTERED w the SEC was the 1st RED FLAG 🚩, ALL the SECRECY was the 2nd RED FLAG, & the fact that his company was still MAKING money when others weren’t was the 3rd RED FLAG 🚩!! The fact that NONE of his investors saw the HIGH return percentage FISHY AF is laughable!! “We didn’t question it,” because you didn’t want to due to ALL the MONEY rolling in!! Oh please 🙄 give me a break!!
I think he got away with this because he knew the 48 laws of power before the 48 laws of power was written.
Martin Smith- the GOAT.
8:13 he said "god wanted us to have this" …..! YEAH AND "GOD FUC😡ED EVERYONE ELSE IN THE SCAM " RIGHT 😕 WHAT A character this one is
The only splitting Madoff did was splitting with everyones money.
“We were never pigs.” -said the Pig
Amazing that no mention of JPMorgan Chase and its role. The bank got off easy with a $2.6 billion dollar fine.