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The Bernie Madoff Ponzi Scheme: The Investment Empire That Never Existed
Bernard Madoff was one of the most respected names on Wall Street. He had decades of experience, an established securities firm, wealthy clients, and a reputation that made people feel their money was in unusually safe hands.
Behind that credibility was one of the most consequential investment frauds in modern history. Investors received statements showing remarkably consistent returns, while much of the investment activity those statements described never happened.
This episode examines how Madoff built trust, how the Ponzi mechanism worked, why warning signs failed to destroy the illusion…
The skinny
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