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Madoff Ponzi Scandal - 10 Year Anniversary

December 11, 2018

Here's how some of the press recalled Bernie Madoff's $65 billion ponzi scheme - 10 years after his arrest on December 11, 2008.


Bernie Madoff's Ponzi scheme 10 years later: Watch CNBC's 2008 coverage [CNBC]

►  As details were revealed of Bernie Madoff's Ponzi scheme in December 2008, CNBC covered the breaking news, the court proceedings and spoke with the victims of his lies.


It's A Scandal That Early On Fraudsters Bernie Madoff And Robert Allen Stanford Were Not Shut Down By The SEC [Forbes]

►  Believe it or not, Bernie Madoff's phony monthly trading reports listed trades on days the market was closed, or at prices that were far off the market, or in volumes that simply never existed.

►  Yet Madoff's scam continued for 36 years, from 1972 until 2008, as the SEC was incapable of discovering the truth, and Madoff's clients never read their phony monthly statements, since through bull and bear markets Madoff always turned in profits that were not real.

The stories of Madoff's victims vary widely, as the fraud continues to unwind 10 years later [CNBC]

►  Ten years after the epic Madoff scam blew up, thousands of people are still picking up the pieces.

►  Some victims have fared better than others, sparking a still-raging debate about investor protections.

►  Victims say the Madoff scandal offers some important lessons for all investors.


Is the next Madoff lurking on the horizon? Experts will not rule it out. [CNBC]

►  Ten years after Bernie Madoff’s $65 billion fraud shocked the world, experts worry that renewed market volatility could reveal the next big scam.

►  The Madoff scandal exposed gaping weaknesses in financial regulation. The resulting reforms are now being put to the test.
►  Could a Madoff-size scandal happen again? Experts will not rule it out.


Madoff Fraud Ushered In Changes to Secretive Hedge Fund Industry [Bloomberg]

►  Middle men endured 10 straight years of asset declines
►  Funds became less secretive and investor scrutiny increased


10 Years Later: What Can We Learn From Madoff's Downfall?  [Forbes]

►  His now-infamous Ponzi scheme rattled markets and cultural spheres when he financially crippled many well-known individuals, nonprofits and large pension funds.

►  In many ways, Madoff highlighted all that was wrong with Wall Street: investors pursuing profits over all else, a reliance on exclusivity, walled gardens and not nearly enough scrutiny by investors despite countless red flags.