New insights about the Bernie Madoff scandal are made public. This time a complete new audible audio series has been released under the name Ponzi Supernova. How did Madoff manage to rob $65 billion, what are the new insights?
13 January, AtoZForex – Bernie Madoff is one of the biggest criminals in human history as he ran a nearly $65 billion Ponzi scheme and he was a product of a corrupt financial system. A system where both clients and regulators looked the other way from cooked books in order to continue reaping the gains he delivered. Based on Bernie Madoff scandal, a new Audible audio series reveals Madoff’s crimes after extensive interviews with him.
Bernie Madoff scandal
Madoff used a Ponzi scheme that lures investors in by guaranteeing high returns up to 50% in only 90 days. Unfortunately, investors agreed to give their savings to him. That is how Madoff conned his investors out of $65 billion and nobody caught him for decades. Afterward, Madoff was caught in December 2008 and was charged with 11 counts of fraud, money laundering, theft, and perjury.
Additionally, Madoff was only in prison after he admitted his fraud to his sons who alerted the authorities, but, in fact, he was never really caught. Also, when Madoff was sentenced 150 years in prison, he is a star in prison for other thieves. That’s because he stole more money than anyone did in history.
After Madoff’s fraud was uncovered, both of his sons died. Mark Madoff hanged himself on the second year anniversary of his father’s arrest. While Andrew Madoff died of lymphoma, cancer whose return blamed on his father’s crimes stress.
Ponzi Supernova new Audible
A new Audible audio series is built around Bernie Madoff scandal including hours of unheard testimony where he discusses his crimes in his own words. Ponzi Supernova, the new Audible audio series, consists of 6 parts where the first four episodes were debuted on Thursday. The final two parts will be out in the coming weeks.
Steve Fishman is the host of the program and he is a longtime journalist who has covered and conversed with Madoff for years. Moreover, the series covers the fraud from its origin to Madoff’s current life in jail. Also, the series includes how he is enjoying celebrity status, dispenses financial advice and runs a small business in the prison yard. Fishman stated that Madoff profited from the way financial systems work which is something people don’t grasp. Also, he said that Madoff was not a freak, but he was sustained by the system and embraced by it.
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