Bernie Madoff (d. 2021)

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Biography

Bernard Lawrence Madoff was an American financial criminal and financier who was the admitted mastermind of the largest known Ponzi scheme in history, worth an estimated $65 billion. He was at one time chairman of the Nasdaq stock exchange. Madoff's firm had two basic units: a stock brokerage and an asset management business; the Ponzi scheme was centered in the asset management business.

Timeline

The story of Bernie Madoff, told in moments.

1990 Event

Became chairman of the NASDAQ stock exchange. His firm was one of the top market makers on Wall Street. The legitimate brokerage operation served as cover for what was happening in a different division.

Was chairing NASDAQ while running a Ponzi scheme exhilarating or terrifying? Did the legitimate business make the lie easier?

2008 Event

Arrested at his Manhattan penthouse after confessing to his sons that his investment advisory business was "one big lie." The Ponzi scheme totaled an estimated $65 billion. His sons turned him in.

What did 'one big lie' feel like to finally say out loud? Did your sons turning you in surprise you?

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