When Bernie Madoff died in April, at 82, he was serving a 150-year sentence. His fraud topped $17.5bn. The investors who trusted him were many and varied. Many went bankrupt, many lost their homes, some were driven to suicide. At sentencing, judge Denny Chin called Madoff’s crimes “extraordinarily evil”. He was not mourned. One investor announced: “Death is too good for him.”
Madoff trafficked in carnage.
Mark Madoff, his oldest son, killed himself.
“Bernie,” he wrote, “now you know how you have destroyed the lives of your sons by your life of deceit.”
Andrew Madoff, the youngest son, died of cancer.
Mark’s suicide note concluded: “Fuck you.”
Now, Madoff Talks chronicles how the former head of the Nasdaq exchange pulled off his monumental crime.
Paperwork didn’t make sense. Returns were too good to be true. Bernard L Madoff Investment Securities (BLMIS) was a Ponzi scheme. But regulators ignored warnings. BLMIS produced 10% annually….