Bernie Madoff: Mastermind of the Largest Fraud in U.S. History | FD Crime
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- Опубліковано 28 вер 2024
- Bernie Madoff: Mastermind of the Largest Fraud in U.S. History | FD Crime
Tales of the Grim Sleeper: • Grim Sleeper: The Most...
December 12, 2008, Bernard Madoff is apprehended by the FBI for what happens to be the biggest fraud in the history of finance. This white-collar criminal embezzled 65 billions of dollars and is bound to spend the rest of his life in jail. His gigantic swindle spanned over 20 years, and tens of people were involved, mostly without knowing it - for instance his wife and two sons.
This documentary tries to decrypt Madoff’s merciless and manipulative mind. Exclusive interviews with his close relations and experts from Harvard and New York University, shed light on this enigmatic character that turned Wall Street upside down. From the big picture to the unknown crucial details, get ready to get inside the mind of the most famous financial swindler of all times.
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Rich people do embezzlement poor people steal.
This statement is so true 👍
Poor people also embezzle.
@@jessicakruger7No it's not. It doesn't even make sense. 🤦🏽♂️
@@DavidKen878”rich people do embezzlement” is definitely something a poor person would do. Ah, the irony lol
@@MicahDamger Yeah. Embezzlement and theft are two completely different things that anyone can do. Wealth literally doesn't matter.
Had the recession not occurred, Madoff might have died before getting caught.
So what was his exit strategy? He couldn’t retire right?
@@dmimz7691 If a recession severe enough for the major clients to dissolve their holdings simultaneously had not occurred ,he would not have had to exit. The fraud would have been discovered after he died by auditors from any of various agencies or private entities.
@@dmimz7691 Why would be need an exit strategy?
It never ceases to amaze me how people who are said to be savvy investors are caught by scams like this.
If you’re keeping savings in FED DENOMINATED currencies or stocks, you need to learn about being “savvy” o lot yet!
Greed
Cuz all they see is green....
because they look like them, they have the same background! they dont expect to be conned by their own
Because these "savvy investors" are greedy themselves. That's why.
I'm not at all savvy regarding finance and investment, but with so many financial scams that have unfolded over the years I've always wondered how many other still operating investment companies and even banks are all just part of one huge ponzi scheme, if not all of them...
It’s crazy how long he pulled this off
Gotta admit his name was appropriate. Madoff. As in ‘made off with…’
😂😂😂
Bernie Madoff with everything
thanx for the bulletin from the obvious dept.
@@tomschmitt6911 no prob. Anytime
@@tomschmitt6911😂
This is such an extremely important video. I am thinking about using it in the classroom somehow. I don't know yet, but it is comprehensive and educational. Thank you. New subscriber.
madoff was small potatoes. you should teach your class about the horrors of excessive money printing and allowed (and even encouraged) inflation.
@@dumbcat then the FBI would show up
You need your head checked,teach your class this,it's simple....don't believe the hype.
"the largest fraud in US history"
Ken Griffin: "Hold my beer"
He took advantage of Greedy people, bottom line.
He was a billionaire for the majority of his life and was arrested @ 70…. I’d say that’s a pretty good life.
I thought the same thing, rich people threw money at him as they want to get richer!
Greed is not a crime. What Madoff did most certainly IS a crime
@@Lostcamp it should be
@@vsboy2577 Desire leads to selfish behavior.
Awesome video!
At least he defrauded mostly those with "extra money" to invest. Enron is likely worse but it hurt a lot more wage earners.
Hey, hey! Money is money!
Bernie Madoff with your money.
Madoff, to me, clearly had a personality disorder. I agree with most assessments of him not being greedy for money. I think he thrived on the power of feeling that he'd beaten the system. He probably wanted to be caught sooner because he could not stop himself so he just kept going until he couldn't anymore.
Yeah. This is how I think about it. They said he seemed proud rather than feeling any guilt. His exposure meant the world will finally see gow brilliant and clever he was. It's almost like how the BTK killer seemed to want to be caught so he can finally claim credit for his atrocities.
Hogs at feeding time
no, he's just second, first is US gov
Federal reserve of international bankers mafia aka government overlords
Yeah, social security is the biggest ponzi scheme ever.
👍👍👏💯
Give a man called MadeOff your money? He Madoff with the money😅
He was nice whenever I got the chance to have a conversation, didnt seem like a snobby rich guy. He lived in the same building I lived in Lexington.
The risk taken by the investor class is convoluted too much out of proportion to justify the quasi illegal nature of doing BIG bussiness/investment. When you face an investor with “But normal people cant do that, or they pay a lot more tax than the investors” the reply is imminent: “but we take so many risks” and thats correct up to a limit. After that limit you become the risk
Madoff was no different than a majority of humans
So many operate/exist with greed/love of money & power as the underlying reason for living
He was just on the extreme spectrum..of this psychopathy
That tittle goes to the US Congress
Uncle Bernie is my hero
😮the people who run his feeder funds were mostly crooks.Never did any due diligence because the kick backs was easy money.
10% guaranteed year after year..
I’m not a financial expert but, even “that” statistic sounds obviously too good to be true!
18% returns? What's not to love?! Where do i sign up?
10 % every year = something doesn't add up
I'm curious if he even knew how to actually invest and trade. Buy and sell stock.
Greeds blinds the already rich and powerful
You do realize Ruth has a degree in psychology? She also was incredibly great at finance.
This is a new documentary, but info is old ...
himself Ted Bundy the Wall Street
I still can not fadem how for twenty years if the crime is so enormesa how on earth how on earth was he not coght earlire
So what was madoff e it strategy? He couldn’t retire right? What would of happened when he died?
Good financial advice: Invest Only As Much As You Can Afford to Lose, Especially If The Scheme Seems Too Good to be True. Hell, I can't even afford to invest $100 into a Ten-Percent-A-Year-Return scheme. You think I should have any sympathy whatsoever with those idiots who lost their life savings of more than a million dollars? Not at All. Forget It. Extreme out of the ballpark greed was their downfall! I guess I am envious... but Oh So Glad I am not in their financial league! Let them bask in their greedy failure.
What goes up most come down. I would never invest more than fifty bucks. What did they invest in? How in the world you give all that money to a stranger with no knowledge of the product you’re investing in
A professional panhandler. And. For the most part was able to pull it off.
Steven spill burgs - if he screwed him too - I feel happy he lost slot of mony - and he target very rich that’s nice - let me continue the video - I just got exited to see he screwed spit burgh
Zelenskys handlers..hold our beer
What would have been great is if Madoff got Trump.
Any asian translate version?
The new movie is The Son Of Charles Ponzi: Bernie Madoff!
Bitcoin is the same
Long live the legend how did they manage to arrest Bernard but none of the executives at hsbc bank smh double standard
YET ANOTHER F/U BRIT VIDEO WITH A LANGUAGE DIFFICULTY !!!!!!!!!!!!!!!
If it sounds too good to be true, it usually is. People were too lazy and greedy to check it out properly. It astounds me that hard working, intelligent people get caught like this.
Just because people have money to invest, does not automatically make them hard working or intelligent lol.
A lot of people trusted their financial advisors, also I don’t know the term, large Institutions were robbed as well, not just individuals
It’s called greed. And they deserve all they get.
@@junelawson5100investing your money is not greedy… it’s smart. Blame the criminal not the victims.
Hard working people are not fooled like this. They realize how hard it is to get the money they wouldn't leave unattended. It's the wealthy people who didn't work for their money that got taken financially.
Lol. Congress makes Madoff look like an amateur
With Congress, at least when the Democrats are in the majority, we get something, actually a lot, for the taxes we pay. You may want to deny it, but it's true and very observable if you open your mind. You benefit every day of your life.
@@gogreen7794 oh what, like mass murder (abortions)? gender science funding? useless pontificating and social posturing?
Exactly right.
@@gogreen7794what is it you get when Democrats control Congress?
Hey, it’s just the “American Dream” at it’s best!
50:10 he will never reveal what he did with the money he collected? Isn't it obvious? He lived the high life for decades.... That's where the money went.
A lot of other people benefitted. The guys who got him the money got huge commissions and guys like Jeffrey Picower profited by pulling their money out after a while.
Bernie I guess you didn't keep that old saying stuck in your head.. the same people you meet on the way up you're going to meet them on the way down.. I rather be a nobody then to be in your world..
Greed begets more greed, as it leaves us feeling more empty and more hungry. Instead of providing us with peace, it creates envy and aggression. He didn’t take advantage greedy people threw money at him.
What are you talking about he didn’t take advantage ? He took every advantage possible. And the investors were looking for a legal way to invest. Not everyone who invests is greedy.
Maddoff lived long enough to see one son die of cancer and one of suicide. outliving your children is the ultimate punishment
So true😔
Good!
The bad karma he generated destroyed his whole family
Yes very sad
And 64,000 other victims
Vast wealth and experience obviously does not reflect common sense, I freaking love watching the disgustingly rich go from riches to rags without a clue. 😂
I agree 100%!
if he was black he wouldn't made it this far😂
at all!!!!! The FBI, DEA, EMT's National gurard , Navy all wouldve took him down. Now he would have if the victims were black
Madoff was just the scapegoat once’s the dominos fell. The rest of them got away
The rest of who?
What did he do with all the money he collected? He spent it on himself. No "secret" there at all!
He also spent alot of it on his employees by giving them massive salary increases and annual bonuses.
Why couldn't Madoff escape or be tipped off?
He screwed with his own 'kind'.
Isn't FTX a bigger fraud?
Same Fraud Same Scheme. Most Important Same people
It’s crazy how people keep falling for these And how the government hasn’t banned it greed is so real And the desire to get rich with doing nothing is sad. When all we need to do is just invest in ourselves and not trust these so called financial experts and geniuses
This has been probably been happening since beginning of wallstreet. Crooks get away with this ,because some look the other way, or are bribed. And they are smooth con artist s seem sincere, and are usually likeable. But people s greed partly to blame. Especially if you don’t really know what you are doing, take persons wod
word
The real difference between Madoff and his victims is one of degree, not moral status.
Moral ? Predators have moral?
@@josedro he wasn’t a predator. Greedy people lost money.
@@LittleRayofSunshine69750 I'd say Both Madoff and its customers were all greedy predators with absolute no moral. THe all wanted to live from speculation
Those who turned a blind eye will one by one get walked into the pits of hell becoming oil in the lamps of the wailing victims of time eternal. Smile, evil your days are numbered. - The Count
These philanthropists ,when they talk about charities that means the money goes to Israel, nobody else
It's also tax deductible
biggest financial scam?.....9/11
I can’t feel bad for people falling for a scam that’s over 100 years old I mean damn
He conned people out of billions…. Of course he conned his little wify……
He didn’t scam little old ladies…well little old ladies without money….
He screwed his own Jewish group
Being a savvy investor is like being an expert wine taster. When they're given cheap walmart wine, they rave about it because nobody really knows
I'm so glad Gori and Bauer talked about the greed of the people who invested with him. That's never discussed. I feel bad for the people who had their money invested with him on behalf of a retirement fund (teachers union, firemen etc) but the individuals who invested as individuals and lost money only lost their money due to selfishness and I have zero sympathy for them. They were trying to skate regulations and got what they deserved
U cant be this dense
@@rosysulla What do you mean? A person should only invest what they can afford to lose
@@lukeyarasheski5510 what youre essentially saying is its the bank tellers fault for a bank robber deciding to rob a bank.
@@rosysulla Not at all. If an individual made the choice to invest with this person specifically due to a higher than average ROI, they are also greedy. It's not even remotely the same. This sort of makes me think you don't understand accountability
@@lukeyarasheski5510 sure.
His was not a get-rich-quick scheme- he was dealing with millionaires who just wanted millions more. They were greed heads “who were in great want- the want of more.”
Maybe Madoff just wanted to screw over rich people. lol
Man the old guy with the short santa look is so annoying to listen too. Sounding like Heath Ledger joker talking with thay lip smacking slow talk. Ahhhhh geez
He’s overweight and having difficulty breathing also his age. Be nice lol😂😂😂😂
a greedy jew who ripped off greedy jews .. remind me to shed a tear 😂
Lol my tears are my farts😂😂😂😂😂
When your only job pretty much is listing his accolades that was a terrible job 😅
Where are
all these billions going finance wars, countries ? what ?
🤺💐
You cannot swindle an honest man.
Why have compassion for those liveing in wealth forever? Even after he robbed them they are still liveing better then 99% of everybody else in the world
Don’t put all your eggs in one basket
Viva Bernie Madoff!!!! Un Heroe !!! Merece un monumento en el medio de Wall Street
Absolutely! He is an American Hero.
Amway is far bigger, about 450 billion ❤
Savvy and sophisticated don’t seem to be what we think huh???? Sigh
The music in the background is useless and annoying.
OMG! HIS SONS ARE DIED BECAUSE OF THAT.🤦
HEARTBREAKING.
Yea didn’t like that part.
The SEC investigators who didn’t catch Madoff should be fired and jailed. The investigators should have some ownership in their failures to do their jobs.
You are right. The didn’t investigate they didn’t go to the offices to check the computers
Mlms are about 190 billion a year ❤️
5:00 i think her choice of descriptive words are improper per what they wanted from maddof
They should of let him keep going so he could pay off some of the investors. People were making money with him. Only when a couple wanted everything back was it a problem.
😅😅only fools can be catch by a fool!
What about the New York SEC that refused to do thier job properly and could have saved many people hassles. Madoff actually turned himself in due to the external events he could not survive. So much for trading and financial governance on Wall Street.
"The Swiss brand 'miss'". Did anyone catch that.
You beat me to the comment column! I was going to share that. Yes, it made me chuckle!
The Jewish joker
What do Madoff and SBF have in common, outside of the scheme?
Detetive Jp,fiz o mesmo serviço no Braszil, para condenar o maior piramideiro do mundo: Saleem Ahmed Zhaeer, paquistanês!
Dont feel sorry for this greedy people,,,,,,
Weekend at Bernie 🎉
Fraud is so harsh. He did reinvest their money and did so with keeping everyone healthy.
It was basically a guaranteed way to make money long term as long as you didn't withdraw your whole bag which you shouldn't.
It's equivalent to living off dividends. The financial world wept when bernie was arrested.
I pray for him everyday
#Mentor
#Papa Madoff
#THE financial system
dip💩
I don’t trust any of those pin striped piranhas
One tragedy here that is not talked about, except for the suicide of his son, are the people who looked up to and even loved Madoff only to learn that he was not the person that they thought they they knew. That is in some cases an even worse tragedy than the money lost.
I don t understand with all the effort he went through to do the fake statements and juggle finances
Why he did nt just spend the same effort and invest the money ?
The worst part was how he used his jewish heritage to seem trustworthy to the jewish community. There's a term for this that escapes me at the moment. Its gross. Its pathological
11:01 This is the term i was referring to. Just gross stuff
Madoff is not good person at all. I am glad the larger ponzi scheme has end. Good work on the video.