Bernie Madoff, infamous Ponzi schemer, dies

Bernie Madoff, infamous Ponzi schemer, dies 1

 

Bernard Madoff, whose name became synonymous with financial fraud, died while serving a 150-year sentence in Federal Prison. He was 82 years old.

His death Wednesday at the Federal Medical Center in the prison in Butner, North Carolina, was confirmed by the US Bureau of Prisons. A cause of death was not released.
In February 2020, he petitioned the courts for an early release from prison, stating that he had terminal kidney failure and a life expectancy of less than 18 months. But the US Attorney's office for the southern district of New York said Madoff's crime was "unprecedented in scope and magnitude" and is "sufficient reason" to deny Madoff's request.
Madoff was the mastermind behind a $20 billion Ponzi scheme — the largest financial fraud in history.
He had a legendary career on Wall Street, famously delivering astronomical returns for his investors, which included director Steven Spielberg, actors Kevin Bacon and Kyra Sedgwick and New York Mets owner Fred Wilpon.

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98 Comments on "Bernie Madoff, infamous Ponzi schemer, dies"

  1. My heart bleeds purple piss for him.

  2. For awhile, I was wondering if karma still existed. I apologize for my doubts.😅

  3. He was a billionaire he didn’t have too get greedy & could’ve lived like a king & probably would’ve still been living if he wasn’t in jail.

  4. Mr. Market Original | April 14, 2021 at 11:08 AM | Reply

    Ohhh. That’s what happens when you are unethical. Always behave with honor and truth.

  5. Political Foolishness | April 14, 2021 at 11:09 AM | Reply

    I’m convinced wall street is a scam, doesn’t need Madoff to prove it to me.

  6. Cheating rich people is a crime, cheating poor people is a business.

  7. greetings from Sunny Siberia | April 14, 2021 at 11:11 AM | Reply

    Once the game’s over, the king and the pawn go back into the same box.

  8. JuICyBLiinGeR | April 14, 2021 at 11:13 AM | Reply

    Another good day for news. Just waiting on the rest of them to keel over.

    • Shary. Schubert | April 14, 2021 at 5:03 PM | Reply

      Starting with Kushner and his family, Trumps family, so many others. Karma never forgets.

    • @No Name Not at all. I simply told you the what “impeachment” means. I didn’t comment about anything else that you stated. Stick to the point. And no, those are not interchangeable. If you cannot be bothered to read a book, surely you have time to seek the meaning in a dictionary. Oh, and Google is your friend; reacquaint yourself. with said tool and you’ll find many sources that back me up. Nice try with the “dishonesty” smear; I’m afraid you’ll have to seek the definition of “dishonest”, too. Happy hunting! 👍🏻

    • @Bird Brain and I explained to you how your assertions that I was ignorant and wrong was in fact not the case. And that the terms refer to each others meanings fundamentally.

    • @Mostly Peaceful I’m not the smartest person on the planet, but intelligent people argue respectfully while you haunt YT threads simply to denigrate people with ad hominem attacks while providing no arguments or facts. And I don’t go around encouraging my fellow sycophants to set up kangaroo court tribunals and executions for people with whom I disagree. Unlike you, I use common sense. Street smarts.See the difference between us? So, I stand by my previoue comment.

      And, I do believe that Trump at least once stated that he “loved the uneducated”, so he obviously was smart enough to know his audience and differentiate their intelligence from those of Trump supporters. So much for “equality”. And according to him, anyone who doesn’t render absolute fealry toward him is a “traitor”. And I find it ironic that you have no trouble calling me a bootlicker (someone stupid enough to back your opponent) while whining about me returning the favor. Grow up, quit crying and “liking” your own comments.

    • funny..so true..just waiting ✋

  9. Waiting for a similar announcement for the greatest conman in the history of the world. Can’t come soon enough.

    • @Mickey Rosa i practice at the range

    • Hannah Zander | April 14, 2021 at 5:30 PM | Reply

      @Mickey Rosa Joes been in govt for 47 years.
      Trump had the border under control.
      Look at it now. Joe undid policies that were working, for what?
      Now he gets to spend trillions of dollars on b.s.
      At least Trump respected tax payers money.
      Neither this fake prez or fake v.p. have been down to the border. Why, because they have no intentions of stopping the disaster that he created.

    • Anthony Alexander | April 14, 2021 at 6:11 PM | Reply

      @Roy Barron Biden has substance mostly lint between the ears

    • @Michael Jenkins ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha
      Haha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha

      Haha ha ha ha ha ha ha ha ha ha ha ha ha

    • @Michael Jenkins Ok sure🤣

  10. What’s crazy is je didn’t go to prison for ripping off poor and middle class people he went to prison for ripping off rich people especially rich and white.

    • @TheOrangeRoad It wouldn’t have made the news and it would have last much longer.

    • @hoibsh Not really idiotic you think if they would have made a big deal out of him if he ripped off rich black people?

    • TheOrangeRoad | April 14, 2021 at 5:06 PM | Reply

      @Jerel Boza Yeah he probably would have, BECAUSE HE WOULDNT HAVE BEEN MAKING BILLIONS OF DOLLARS

      Its much easier to get away with small cons than it is the largest single ponzi scheme in world history. How insultful!

      Your comment was redundant, and you had to include race into it.
      What a dunce

    • @TheOrangeRoad That’s not true in the least. Saying well yea probably indicates you don’t know. Just cause you won’t admit we live in a racist society doesn’t mean we don’t. BTW there was quiet a few people did what he did to black people and none of them were ever tried.

    • @TheOrangeRoad How much does a black person cost now? I read something like $24,000,000 up north but are they cheaper elsewhere?

  11. I’m surprised that he allowed his sons into the business. It would have been more fitting to deny them a job, then they may have been able to weather the storm elsewhere. All those years he just had to know that one day it would come crashing down, even in the event of his natural death the truth would have been discovered and his family ruined.

    • The two sons didn’t know about the actual scheme of the business. (According to investigations, of course, there are doubters) Bernie Madoff had two business, one which “appears” to be a normal investment company, which both his sons worked at, (i.e. just a front with fake numbers to make it appear legitimate) and the “real ponzi” business that was hidden, which only Bernie, his accounting David Friehling, and his brother Peter Madoff knew. (And couple part-timers who just barely had high school diploma with no college degree, i.e. they had no idea they were working with a ponzi scheme under their noses.) But yeah, once Bernie died, the two sons would have figured out the business anyway. So he wasn’t very smart of an exit strategy. (Bernie was asked about this from an interview, that if he gotten away with this, and died of natural causes, his two sons would be in jail instead of him, which Bernie had no real answer.)

    • Marcelo Glenadel | April 14, 2021 at 12:02 PM | Reply

      That Madoff had to tell his sons that it was all a sham as things began to go belly up is just precious. I don’t believe people who were on the inside had any way of not knowing it was a sham. Even if he did some investments just to obscure the real scheme, either those investments didn’t do as well as the purported 8-to-10% of return, or they did, but were nowhere near the total amount needed to justify the profitability. People on the inside would know.

    • Greed blinded him. 😐😐😐

    • Much like Trump, he wanted people close to him to continue his grift…

  12. If you’re getting a steady 8 to 10% over a long period, something is up. And everyone knows that. These people were undone by greed.

    • Steven Williams | April 14, 2021 at 5:30 PM | Reply

      @Bill how so?

    • Alfred Stiffcock | April 14, 2021 at 6:27 PM | Reply

      I’m reading comments of all these top rate economists and Wall Street brokers. YouTube gave a voice to people who still live at home with their parents. All of you are suddenly experts on everything. I don’t care what the title is, folks will become geniuses overnight. Most of you work at Popeyes handing out chicken sandwiches, while screaming “ours is better than Chick-fil-A.” Now before you start yeah yeah I know you have a masters degree in business, live in a mansion, drive a lambo, married a super model…blah blah blah. All of you say the same b.s.

    • Leon Bundage, jr. | April 14, 2021 at 6:55 PM | Reply

      They were as greedy as he was, everyone.

    • @Alfred Stiffcock Now I’m no expert – and I know how much you hate it when non-experts comment – but maybe it’s time to adjust your meds? Please ask a qualified health-care professional. Also, if you like, I can explain in detail how idiotic you sad little rant is.

    • @Bill Cool man, I accept your definition of “steady” returns as being consistent, without variance from year to year.

  13. It’s not a “sad and tragic story.” He had no remorse because he kept stealing.

  14. We should all learn from his life. Do good with what you’ve been fortunate enough to have. You can’t take the money with you, no matter how much you amass. Do good in the world and help as many as you can. THAT’S THE WHOLE PURPOSE OF LIFE. Too bad the vast majority of the people don’t realize that, or when they do, it’s too late. :/

    • Sandra Barnett | April 14, 2021 at 4:12 PM | Reply

      So true.

    • If we all treated others the way want to be treated, with compassion, understanding, acceptance, respect, this world would become something we would be proud to leave to our children and grandchildren. We can do it. It just takes commitment, strength to stand up for what’s right(integrity) and start being the change we wish to see in the world. And as Yeshua said, forgive them father, for they know not what they do. We who know must lead by example. I’m not trying to spread religion, as I am not religious. But we must be the change we wish to see in the world. It starts with US. Humanity is worth saving. It’s beautiful and we just need to be reminded of it every day. Because we tend to forget on a daily basis. May Love and light reach the hearts of every man, woman and child. Namaste 💛🕊️🙏

    • Kevin Offutt | April 14, 2021 at 5:54 PM | Reply

      @Lita O Perfectly stated my dear!

    • @Kevin Offutt 🙏💛🕉️

    • steven karras | April 14, 2021 at 9:20 PM | Reply

      Very well said. Amen.

  15. Fickle Epicure | April 14, 2021 at 11:30 AM | Reply

    They’re all con-artists on Wall Street, he just made the mistake of trying to con his fellow crooks. If he had just been ripping off people like you and me, he’d of still been a free man.

  16. boldandcourageous 41 | April 14, 2021 at 11:35 AM | Reply

    He ruined alot of lives including his own children’s. There are so many people that did not recover from all that he did.

    • Gail Richardson | April 14, 2021 at 12:25 PM | Reply

      After raising 5 children by myself as a single mom, and working 12 hour shifts and double shifts and 13 days out of every 13, and having to leave my children to be raised by other people, I had finally managed to save about 14k towards a down payment on a home and then Bernie made half of it disappear. Have never recovered financially. Have been slowly saving money again since, but now, at age 77, have had to stop working h

    • boldandcourageous 41 | April 14, 2021 at 4:23 PM | Reply

      @Gail Richardson so sorry that happened to you!!!!

  17. Charles Martin | April 14, 2021 at 11:49 AM | Reply

    And here we are today with politicians “scamming” their faithful followers for funds. And yet nothing is done about it.

  18. José M. Morgado Uribe | April 14, 2021 at 12:01 PM | Reply

    The paradox here is that there are thousands of Madoffs out there living fancy lives at the expense of others who will never go to jail.

  19. Jonathan Nagel | April 14, 2021 at 12:02 PM | Reply

    That his name was Madoff, like “made off with your money” still cracks me up and question rrality

  20. Cerberus:

    There are some people even the 3-headed dog won’t touch at the gates of Hades.

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