There has been ZERO proof that the sons or Ruth ever knew.

How does a guy not make ONE trade for that many years and not get caught.

@alishaholloway7259

4 жыл бұрын

Right! I don't understand

@bastiat6865

4 жыл бұрын

With the help of SEC investigators...

@adammann4839

4 жыл бұрын

When the SEC covers for you, you can do anything.

@Oneofakind123

3 жыл бұрын

How does a guy supposedly trading for a huge fund keep double digit billions in ONE bank account for decades no question asked.... The biggest crooks are the banks

@sickinthehead7507

3 жыл бұрын

@@Oneofakind123 I think that you have to understand madoff used everyone involved from his sons to using the banks to our government not looking closely at the this fraud especially when you have one account holding billions of dollars and no one questions why this man doesn't have multiple accounts to cover billions. It doesn't make any sense at all. 🤔

There's no way he could do this by himself

@tumbleweed576

3 жыл бұрын

Yes ~ and that has been established.

@PatrickMcAsey

2 жыл бұрын

It probably is possible - just about.

@Jrjaro

2 жыл бұрын

How could the SEC go so blind?

@jamesfeldman4234

2 жыл бұрын

@@Jrjaro The SEC seldom does its job. It's mainly a revolving door for high-paying jobs in the financial industry. Staff at the SEC have virtually no experience in fraud investigations. It's staffed mostly by paper-pushing lawyers who later work for the very same companies and corporations they are supposed to be investigating. Now, if a maverick SEC staffer were to actually do his or her job and nail those companies and corporations for fraud, do you think that person would ever get hired by any of those companies and corporations? Of course not. They would be blackballed. Now you know why the SEC is "blind."

@kennyroberson6216

Жыл бұрын

We all know that !

Ruth was not the bookkeeper since the 60’s. She had been with Bernie since she was 16 and it was hard for her to believe the scandal and leave her husband. These people did not do their research.

This is the only benefit of having nothing to invest :))))

@josedro

2 жыл бұрын

LOL

SEC gave him a clean bill of health!!! This will happen again.

@erikathoreson5786

5 жыл бұрын

RADIUM CLOCK it’s happening now!

GREED IS ALWAYS THE ANSWER OF DEFEAT.

His family did NOT KNOW! Come on!

As the saying goes: if you're going to steal - STEAL BIG.

@jeromevaughn7830

4 жыл бұрын

If your going to sin, sin right. Go big or go home. Lol..

Here is my two cents on this. Bernie Madoff is going to spend the rest of his life in jail. People want everyone in this family to go to jail also because of the severity of the crime regardless of if they knew or not. It is purely based on their anger not on justice. Unless there is compelling evidence, I don't see how anyone can make that request. Just because they benefitted financially, does not mean they were complicit.

@gardensofthegods

4 жыл бұрын

While his son committed and the other one died of cancer . The wife doesn't live too good now but I did hear they're trying to squeeze even more money out of her out of the trust fund for the grandchildren to go to college

@michaelfleming8490

3 жыл бұрын

gardensofthegods The trust fund was made entirely out of money that Madoff swindled out of his victims. Every penny of that should be seized and reappropriated accordingly. However I don’t think that any of his remaining family, primarily his wife who is basically the only one living, should have to do any jail time. I don’t believe she knew and I don’t believe she was complicit. But as far as the money, it does not belong to her.

@MM-pj4bl

3 жыл бұрын

EXACTLY!

@tinavalentino8637

2 жыл бұрын

Agree, the father mad sure the his two sons had their own little business on a different floor of the same building. I feel they weren't around their fathers businesses enough to know.

Sons weren't involved.. people kept trying to bait them into giving something up... They stopped talking to their parents completely.. one of them committed suicide, the other died of cancer. Sad. The wife probably knew plenty, cause she worked with them in the 80's..

@PauloTheGeek

2 жыл бұрын

His family and close circle at the very best were grossly incompotent. If someone is so adamant about refusing to let you have any knowledge about a certain side of the business then how could you not suspect something sinister was going on? And even if you believe his sons were totally in the dark, they didn't go broke or lose everything overnight, they were still living in penthouses and driving expensive cars in the immediate aftermath to all this. Their lifestyles were funded with stolen money and that doesn't right, not at all.

A financial planner whose whole family is invested in one fund??!! A 12 year old knows to diversify.

@missychase3014

5 жыл бұрын

picometer472 exactly!

@irasanchez1265

4 жыл бұрын

I literally know next to nothing about investing, and I know that much.

@Lovingme0124

2 жыл бұрын

I said the same thing! Why put all ur money into one hand! Don’t invest all of it!!!!!!

@joshcougar5551

2 жыл бұрын

@@Lovingme0124 because the returns were fantastic and he was greedy!. The presenter should be asking these people how much money/profit they made before it went bust. They must have thought this would go on forever 😆

@PatrickMcAsey

2 жыл бұрын

What 12-year olds know how to diversify? A few, maybe, but not many.

The lesson here is don’t entrust one person with your money. Diversify you’re money to have enough everywhere if any fails.

@gigilovesgod8825

2 жыл бұрын

Greed... They are all Greedy 💰💸 That's Their Result...

@revekat2053

Жыл бұрын

Same with banks.

People berating these people and Bernie's family for not knowing. HIS COMPETITION didn't even know. And they would have loved to expose him. And they had people actively trying to find out how he was doing it. Markopolus was the only one who figured it out.

@mepulley7913

Жыл бұрын

No there were others, but due to his ties in the industry, no one dared to go up against Goliath. I have followed this case since it started and have seen many different documentaries. There were people on the (trade) floor who wouldn't even call him by his full name. Everyone called him just Bernie. When Markopolus reached out to people he knew, they told him, please don't mention my name. Even Markopolus partner, went up against the same.

Millionaire's getting swindled by a billionaire...

@larahilton7417

5 жыл бұрын

But it was THEIR money😕...so it doesn’t matter whether they were millionaires or not really, does it? They worked and sacrificed to make that money, it was theirs. Many lost it all, their homes, financial freedom, their children’s security (which is what we all work for when we work a whole lifetime to own our own homes), their retirement etc etc. No one deserves to have their money stolen from them. The blame rests with Madoff, these people are victims.

@peruvianauthorities1739

5 жыл бұрын

He was only a billionaire as a result of dishonesty!

@missolesoul

4 жыл бұрын

My aunt and uncle lost their money with Madoff. They could not pay for their kid's college tuitions to the great schools they entered, because they all thought they had a college fund. They couldn't retire when they wanted. They were not millionaires, and saw nothing for all the years of working.

@weareallanimals

4 жыл бұрын

I don't feel sorry for any of these greedy, wealthy people.

@petersmith2040

4 жыл бұрын

@@larahilton7417 We ain't seen nothing yet thus far! This Madoff Ponzi Scheme is just the tip of the iceberg of the scams that's been going on for decades on Wall Street. Wait until the next global financial crisis when the derivatives market implode sinking the global financial system as there will be no more bailouts from the taxpayers. The money in people's bank accounts and securities accounts will literally be wiped out to nothing just like during the Great Depression.

These people wanted to believe the returns they were getting. All they needed to do was to show the stock purchase records, not statements but the actual stock orders.

@peterbradshaw8018

5 жыл бұрын

Do you check the financial statements of your bank Warren Buffett and can you make head or tail of them. A lot of trust is involved in finance. Do you knoe the AM Best report of your insurance companies.

@peterbradshaw8018

5 жыл бұрын

Am Best has been caught out and they are the pros.

@tinavalentino8637

2 жыл бұрын

@@peterbradshaw8018 Agree....they can be a little confusing.

@peterbradshaw8018

2 жыл бұрын

@@tinavalentino8637 That has got to be the understatement of the year. I am a bookkeeper in training and I get confused :) Hopefully by the time I become a public accountant the confusion would have disappeared.

Wait a second here: Your saving is in the hands of some investment and you haven't heard or seen him in twenty years?...Poor jerk!

@missychase3014

5 жыл бұрын

phambo101 amen!

@cheryljuliette5017

5 жыл бұрын

I was wondering the same!!!

Bernard Madoff appropriately named The wizard of lies. Great movie.

There's an old saying, "You can't cheat an honest man." The meaning behind this statement is that a con-man often relies on the greed of their marks to bilk them of their money and that greed makes the mark less than an honest person. The lure of Madoff was that he was somehow able to get returns of 12% year-in-and-year-out, without ever suffering a losing year. That was the pitch. And the "victims" who "fell" for this weren't stupid people. Rather, they were outrageously greedy people. They knew or should have known that there were only two possible ways that Madoff could have achieved those guaranteed 12% annual returns in the stock market: (1) Madoff was relying heavily on criminal insider trading secrets to achieve abnormally positive returns; and/or (2) Madoff was the luckiest investor of all time. Either way, a sensible person would have asked, given those two--and only two--possibilities, "How come no bank, no hedge fund, no mutual fund, or any other sophisticated investor had ever "invested" with Madoff?" The reason they didn't is precisely because of those two and only two possibilities--neither of which were good reasons to invest. No, sorry so-called "victims," "You can't cheat an honest man."

@golfrep2584

2 жыл бұрын

Amen, James. The "victims" only became angry when Brenie was caught! It reminds me of a local accountant in my town had a booming business because of the unprecedented high returns he got for his 2,000+ clients. They only got angry when he was exposed for his illegal methods and they all had to pay their back taxes with huge fines. By the way, the accountant committed suicide by jumping off a bridge into the Genesee river rather than face the jail time he was sure to get!

@PacoOtis

Жыл бұрын

You hit the proverbial nail on the head! Greed!

@mepulley7913

Жыл бұрын

What I wanted to add was this: How is it that every firm had modernized, and Madoff's was the only firm that hadn't? As an individual, one could not log-into their account yet with other firms you could. The vast majority of his clients were not tech savvy enough.

@pillettadoinswartsh4974

Жыл бұрын

Your blanket-statement is demonstrably wrong.

@elizagrogan9454

Жыл бұрын

@golf rep Absolutely. When this story first emerged, I was amazed that anybody would put all their money with Bernie. 12% annual returns were inconceivable. The old adage "never place all your eggs in one basket" came to mind. Only pure greed brought people to give it all to Bernie.

My heart goes out to all of the Madoff victims. :(

@user-qm8bc4bu1t

6 ай бұрын

Nightmare

Bernie Madoff is God's gift to antisemites.

@irasanchez1265

4 жыл бұрын

Reflecting back now and seeing how many anti-Semitic comments there are. Too many. By far.

They put all their savings in one investment pool, talk about being stupid rich.

I honestly don't feel bad for them. They didn't have to invest with him! they just wanted to make money from nothing

Never put all the eggs in one basket. Diversify.

They always tell people NEVER invest what you can't afford to LOSE. These people threw money at him because of his lies and they lived big while they could.

@V.E.R.O.

5 жыл бұрын

Also "never put all your eggs in one basket".

@joelkendrick965

5 жыл бұрын

That’s not a wise adage or billions of dollars from 401l would leave the market

@peruvianauthorities1739

5 жыл бұрын

"They lived big?!" Fyi, not all of them lived big! You would have to look at each individual case separately to see what percentage of their portfolio was with Madoff. I did not have any money invested with Madoff . . . but based on his history, documentation looked good . . . so it's easy to see why and how he got clients! But no one new the documents were falsified! I would suggest that you research Madoff and how he worked before commenting! He had credibility with the big banks, and had hundreds of feeders throughout the world. The IRS took in as much as $15 billion as a result of falsified 1099's! Btw, the one person who lived 'big' was Bernie! Not to mention all the income made by the feeders (including Chase) throughout the world!

@PatrickMcAsey

2 жыл бұрын

And because of their greed.

Wow you all want the government help now, but when Madoff told you guys that he was going to make you all rich you all didn't need the government help. It sad but the rich always want to be richer. President Obama to help you....yes right...GREED.....

@missychase3014

5 жыл бұрын

Colneitha Henriques it’s their problem not the governments. They allowed him to invest in their money. Too bad. They made a big mistake.

@Mai-sx3yf

3 жыл бұрын

You’re a miserable person

If they looked at the charts, they should have known something was up, because the returns they were getting were unbelievable.

@AshleyYoungMusic

5 жыл бұрын

Its the same mentality of going to a grocery store and reviving more change than you're supposed to get but not saying anything.

@missychase3014

5 жыл бұрын

Rickeys Lake exactly!

@beatle9239

4 жыл бұрын

If what you are saying about the unbelievable returns is true, then they should have noticed immediately and I would have 0 sympathy for any of them,ever.

@aerialabby

3 жыл бұрын

Where can you see the info

@Lsmootho

3 жыл бұрын

People wanted to see what they wished to see, profit and more profit. They had sold their sanity to the 😈

Lady number 2 : "wish the returns were better" ???????????? They were better. To the tune that only 4% of the time did Madoff holdings show a "loss". Markopolos kept saying the analogy of a baseball player having a .960 batting average. His stocks basically ONLY went up (while everyone else on planet earth was taking a bath). Im sorry for your loss but you cant cheat an honest man. Greed greed greed

Why do people put their money with investment firms? To make money of course, which means you may be getting into bed with some crooks, thieves and scumbags. They should interview the multi-millionaires that lost money.

I feel so so so sorry for them..

@SirPrizedalot

7 жыл бұрын

feel sorry, but not so so so...

@pastre999

6 жыл бұрын

Stan Green It was not without irony I said it..

Rich people problems...

@user-zu7pi6fl7l

3 жыл бұрын

LMAOOO!!

The CPA has a valid point. The thing is with money you have to do due diligence. An independent custodian is key. It has happened before when your custodian and investor. The SEC did not do the basics when they investigated him. A call to the depository would have shut him down.

Ruth Madoff was NOT the bookeeper for his business.

nothing like a personal loss to make conservatives want the Gov to help them...

@jammzy2959

Жыл бұрын

Right?! Everyone else is a welfare queen.

I understand Madoff was a horrible man and deserves to spend the rest of his life behind bars.... BUT, when you put money in investments. Your GAMBLING.... so in turn you are taking that risk. You took the risk and lost your money. Why should the government step in to give you the money you GAMBLED? Why should Tax payers give you a bailout? I understand the devastation in the money you lost but you took on that RISK! GREED is a messy thing.

@robertfolkner9253

7 жыл бұрын

CarLov3r +When the Dutch Tulipomania collapsed and investors screamed for the money, the government issued a statement that the investments were the same as gambling and thus they were not legally enforceable.

@sadlemayfriedman5564

6 жыл бұрын

CarLov3r I just came across this video on MADOFF. Then I saw what U said. It is now 1/7/18. The Dudd-Frank bill has been rescinded under GOP administration. It is Federal Government's job to protect it's people from fraud like this. That is why laws were made especially after the crash in 1929. Everyone wants money because that's how the world works. To say someone is greed because they want a chance to help their kids, family. Or retire as greedy. Is in short, STUPID. The man who was finally able to get the his story told started in 2000. He sent the SEC his analysis on Maddoff's Ponzi scheme and they ignored him. Not once but five times. So yes when you invest as they did it can be risky. That's exactly why we need to have strict oversight on Wall Street. Remember in 2000 Bush took office At that exact time came the ENRON debacle and the Arthur Andersen accounting scandal. Today the market is up but it will have It's revenge. On those who no longer have the protection that was established in the past eight years. Should be VERY careful where and with whom they do business. Just saying.

@sadlemayfriedman5564

6 жыл бұрын

I would like to correct my mistake on context. It was the Dodd/Frank bill. I'm sorry for the incorrect spelling.

@zenodotusofathens2122

6 жыл бұрын

CarLov3r Wow you are really stupid. you cannot make a distinction between and out and out thief [Madoff] and legitimate brokerage firms [Schwab, Vanguard, Fidelity]

@bearmerica6668

6 жыл бұрын

Rich people's problem.

Greed on all parts. It was obviously too good to be true.

Heartbreaking

If he wasn't chairman of wall street this would not happen he had lots of connections

The math teacher at 13 minutes: You know I think this you know and this you know and you know you know you know you know. Is this an educated man who cannot speak English without saying "you know"?

Greed plays a big part in this. They didn’t diversify

With all due respect there was a great amount of greed on the side of the investors/victims. These so called victims, were ok with the rather large gains they were or thought they were making. Didn’t did they ever questioned how was it possible to get such returns on their investment. I would at the very suspect criminal activity such as drug smuggling/buying/selling or other kind of not kosher activity. It is sounds too good to be true, it usually is not!

@beatle9239

4 жыл бұрын

L, basically you just said it all.

Some of these people are already millionaires. Apparently they want more, and in the end, greed got them.

@Mai-sx3yf

3 жыл бұрын

If you have the money why wouldn’t you invest it? It is the smart thing to do. Your just jealous

@katekate8973

2 жыл бұрын

Nothing wrong with that

Where is our 40 acres and mule 🤔 Nobody wants to talk about that do they ? I guess not , But lets start with that first 😷🤕😜.

At 10:22, “What about you Ron, you are a financial planner but you got caught up in this”. 😂😂😂😂😂 Anyone here need a retirement plan? I recommend Ron.

I question your “smart”ness, your brain “activity” or lack thereof. You MUST take some responsibility yourself. YOU BELIEVED HIM!

Oh man they lost 2 million now they only have 30 million left! Oh how ever are they going to survive

You know, people just want profit without doing anything, if it was my money even 1 buck never did i will invest it on sketchy system, i mean come on guaranteed more than 6 to 8% even 12% ? what are you ? a wizard?

@BrianSmith-yq7ys

6 жыл бұрын

Achmad Naufal Sketchy? Madoff was in business for 30-40 years was cleared by the SEC twice, he was a chairman of Nasdaq. If you can't trust those credentials you can't trust anybody

@thinkingaboutit9826

5 жыл бұрын

I'm trying to understand your use of the English language... What are you trying to articulate? I'm honestly interested, if you are saying "don't invest ever," than what is your system for investing your money?

@nikhilsukumar23

5 жыл бұрын

Not always true. Yes, you could live off investments, but many people do it to complete their goals like travelling, studying again and doing service. Don't believe in every media created idea of rich people. Humans cannot sit and do nothing. It's impossible. Even if we sit, we may be doing something. Planning for our goals. Doing jobs under people is not the only way to fulfil your goals.

It's difficult not to be nauseated by the woman whining about each investor ONLY receiving $500,000 back from SIPC. Seriously, this was a good thing for most of these people. They have completely lost touch with reality. Many victims need to ask themselves, "how much money is enough?"

@zenodotusofathens2122

6 жыл бұрын

Tt Hh Idiot. Who are you to tell a person that they have no right to the money they earned.

@haiscore2614

5 жыл бұрын

How about you tell yourself that and allow others to pursue whatever they please so long as they do not harm others?

@peruvianauthorities1739

5 жыл бұрын

While reading your comment . . . my thought was . . . you are one of the dumbest people on planet earth!

@AshleyYoungMusic

5 жыл бұрын

Well she is whining because she invested 1 million, only got back 500,000 but is being taxed 2 million basically.

my heart bleeds for them

This is why I'm happy to be poor.

Also “ never put all your eggs in one basket”

Madoff said, “the average person thinks I robbed widows and orphans. I made wealthy people wealthier.” .

@scottsammons737

4 жыл бұрын

Yer just a compulsive liar who couldn't help himself

Help the millionaire victims

What does the government have to do with their loss ? Did they go to the government to make the investment?

@LA009Lab

Жыл бұрын

Meaning the SEC could’ve done more and investigate him.

If you can’t ask questions about your own money 💰 then it’s a bad idea 👎 people need to quit being so naive.

*_NOT SORRY_* *_GREED_*

@gardensofthegods

4 жыл бұрын

Not everybody that got ripped off was greedy . The Carpenters Union had their pensions being managed by the hedge fund that got ripped off by Bernie Madoff . I don't think those people understood what was going on with their money... and Carpenters are not rich and I don't think they were being greedy.... a number of people who got ripped off were hard working people he probably didn't really understand how the market works

@beatle9239

4 жыл бұрын

@@gardensofthegods There's that word Union again. Do you think the reps that invested the money didn't know anything? Sounds like the workers were getting double scammed to me.

Why and how did the SEC cover for Madoff and his scheme?

Most of these people ended up getting 75% or more of their original investment returned to them. However, if they took money out of their fund they might not get much , and they might have to pay back part of the dividends they received.

So- greedy people got swindled!! LMAO!

@claudiariedel5777

4 жыл бұрын

There is no such thing as getting something for nothing.Too good to be true,also too good to be ignored,pass by.Greed is Good. let me see you all getting your money back??🤔🐽

They were probably told the interest would be 15 percent or more ..they will not go for less than 10 percent

No black investors...

Not going back to work even though Madoff took all your money? Odd.

How did Madoff generate so much checkable paperwork?

@stevenshippy5966

5 жыл бұрын

thegowerboy With lots of help

@thegowerboy

5 жыл бұрын

Steven Shippy. That is the spoken truth.

@tattiebogle4976

4 жыл бұрын

He needed a LOT of help on the 17th Floor. I can't see one person generating all those statements, even with 100 computers.

@hlowrylong

Жыл бұрын

I think a lot of the paperwork was repetitive- but it appears to be 5-6 people embroiled too.

The rule of thumb is that investors can expect to get ten percent of their investments back. They have at least learned a lesson.

U all did it urself folks...

@ZFnr4y058mr

6 жыл бұрын

no, they didn't. he stole from them.

@missychase3014

5 жыл бұрын

Exactly! They gambled and lost.

@wbl5649

4 жыл бұрын

@@missychase3014 do you have a 410K at your job ? Do you everything about where all that 401K is investing what you put into from the money you have going to it out of your check, if not, shut up. Or do you work a Pizza Hut...

Financial literacy, educating oneself on investing so you can nvest your money yourself and not just hand it over to someone else.

Actor Kevin Bacon lost $20,000,000 in this. Afterward, he said simply "I guess I'll have to go back to work now," which he promptly did. I don't remember him whining that the Government should've bailed him out.

@JasonRMJ

5 жыл бұрын

that's a lot of wasted dollars

@haiscore2614

5 жыл бұрын

I don't think you understand the difference in situations. Kevin Bacon had the ability to go back to work in the first place while some of these people were about to older and about to retire from careers that are not easy to get back into.

@AshleyYoungMusic

5 жыл бұрын

What are you serious?? He's an actor so he is ok. These are normal working people that are not safe under the tax break that he is getting! While the are being taxed half of what they lost, normal people are being taxed double. Remember it is the working class that sustains America..hence why we are taxed more

@wbl5649

4 жыл бұрын

Ya easy for him to chuck it off when he can make that back doing a couple movies..

I am not a lawyer but folks the SEC do not have the staff to give any investment the seal of approval.

Systems needing Spirituality. "Trustworthiness is the greatest portal leading unto the tranquility and security of the people. In truth the stability of every affair hath depended and doth depend upon it. All the domains of power, of grandeur and of wealth are illumined by its light." ~ Bahá'u’lláh, Baha'i Faith

Jesus wept. Even Bernie himself told them not to give him more than 50 percent of their money. The only folks that have my sympathy are the ones who didn’t know they were invested with madoff but even they could have found out with minimal trouble. Ffs some of the sheets showed trades with companies that no longer existed or filed bankruptcy. Everyone was just interested in that balance.

Imagine that the government doesn’t care one bit how much money you lost

They made a bad investment, no different than buying property, and they go down.

FFS! Do your due diligence and don't put all your eggs in one basket.

@cheryljuliette5017

5 жыл бұрын

Exactly!!!!

Convicting someone like madoff should have deterrent value for other potential scam artists. But there seem to be no end to the people who make a living scamming people.

Some of these people had money with Madoff over 20 years. At a rate return of 10 percent per year, some of these people had made 200 per cent of their capital or doubled their money. They are crying because they lost the capital amount and did not treble their money. I feel so sorry for them. Not.

All his family involved. The lifestyle they all had and according to them, they had no idea where the money's from. They can't think someone still believes that.

You got dividends every quarter. On the plus side. U should have known. Real stick market doesn’t work like that. It’s not real life

I have always believed that Madoff kept his sons and wife out his scam. They are victims as well.

Lady with pink turtleneck looks old enough to get social security, why does she need to work till she's 90? If she can't afford her current lifestyle then she needs to cut back. She should have also invested on an IRA and saved up some cash in case something like this happened.

@beatle9239

4 жыл бұрын

Simply stated and just basic common sense. That is why one should feel sorry for any of them.

A beautiful illustration of “ efficient government is an oxymoron “

No such thing as a safe bet .. never put all of it on one 🏇.. and never get greedy . . only bet what you can afford to lose ..

@anthonyhall7623

3 жыл бұрын

We can’t afford to lose anything. It’s 2020 now and today if this happens again there is NO RECOVERY.

She lived in luxury off his wrongdoing

I don’t think the family necessarily knew. I do agree that the SEC was grossly negligent, or someone was being paid off. Now, I do think other crimes committed by the sons came out over the course of the investigation; for example, they forged financial documents to show income in order to get a home loan, they were given loans by the business to dodge taxes, etc...That is what I think pushed Mark to suicide-he knew that those crimes, though not very sexy, involved hefty sentences, and that the public was out for blood. Sad story for everyone involved.

Reading about Home Stake investments of the 50s 60s and 70s. A fraud that duped the best of the best.

The FDIC doesn't pay for stolen money from a bank account. It pays if the bank fails altogether. If a computer hacker or con artist steals money from your bank account, and gets away with it, the FDIC will not reimburse you for your loss. Don't use the Internet for banking. Get paper bank statements, and paper transaction receipts, and save them for several years.

The taxpayer (the government) owes these people? I can understand their frustration and anger, but I don’t know how other taxpayers should be punished for Madoff. Such a strange reaction.

Sad

I find it hard to believe that the wife and the sons didn't know what he did, i believe that's why the son killed himself,

did any of these people get paid out?

His wife got to keep 2 million

@dukadarodear2176

3 жыл бұрын

There's a bottom line below which the elite monied club won't allow their colleagues fall.

@zazubombay

Жыл бұрын

Bernie did a plea deal so his wife would have money to live on -- has nothing to do with an "elite monied club."

Karma for the greedy rich who got their money where? From the poor!

How sad. I can’t imagine being completely broke🤣🤣🤣🤣🤣🤣🤮😘

All their money was in one basket. Dopes all.

@beatle9239

4 жыл бұрын

Yes, for the ones that invested that way.

Ruth was a bookkeeper for a very short period of time early on in his business.

what does the economy have to do with having to go back to work.the only ones who say that wouldnt have to go back to work

@sickinthehead7507

3 жыл бұрын

I do agree that was a weird statement I think he has some funds to cover his bills

The two sons worked on different floors and were involved in different aspects of the business. I don't believe they knew or were involved, I also don't believe Ruth, who trusted Bernie, knew what was going on. As far as being the bookkeeper, Ruth was only the bookkeeper in the early years of the business before Andrew and Mark were born. Mark committed suicide in 2010 and Andrew died of cancer in 2014. This case is a tragedy for everyone involved.

Why would you give your life savings at least a little bit not all of it wtf read Proverbs under GREED

I don’t believe his son’s knew about the fraud

why would u put rich people crying about their money on tv when so many other people are suffering? But then again this is news and needs to be heard

@rhondabienes1329

7 жыл бұрын

I surely /really do feel sorry for all those people who had fallen prey into Bernard madoffs clutches and they never knew what they were going through from the very start until they all found out after the fact !all for now all of these good people got back everything that was owed to them and Bernard Madoff is now doing 150 years in the cooler /state prison ! Rhonda bienes

@Babywyde

6 жыл бұрын

I’ve heard of several local ponzi schemes, so it’s necessary to tell the story. I feel bad for the older people who people are still being scammed

I AM SO SORRY,IT IS HARD. TI LOSE EVERYTHINGS, I AM FROM MORROCO, I AM ALSO LOST HALF O MY WEALTH