Bernie Madoff was at once family man, trusted friend, business success story, and one of the most notorious Ponzi Scheme Kingpins in history. He was the man behind a deceitful scheme that devastated the lives of thousands including his own family.
By all appearances the Madoff’s were to be envied for their lavish jet setting, country club lifestyle, but the stability of their grand version of the American Dream was fragile and precariously teetered upon the soon to shift foundation of fraud.
The decades long gig was finally up, when Madoff was arrested on December 11, 2008. He was surprised by the FBI in the early morning hours, while still dressed in his pajamas.
Upon hearing the big confession his sons did not wait, as their father had requested, but instead immediately turned Madoff in to the authorities. And in fact, not long after this shocking reveal, neither son talked with their father again. The curtain was pulled back. They now knew who their father really was and the awful lie he had been hiding for all those many years.
Bernie was a success, but his success was not built on hard work and exceptional business acumen, but rather a delicate façade based on a relatively simple Ponzi scheme algorithm of theft and fraud. It all fell apart as many investors began calling in to withdraw their money (for some their entire life savings had been placed in Madoff’s care) in the wake of the 2008 Great Recession.
Who was this person capable of deceiving thousands, including family and friends, straight faced and in a most calculated and convincing manner? A man who could sleep soundly beside his wife Ruth in their Upper East Side apartment at night, while living the high life off other peoples savings. Does this make him part of that breed called psychopath? To learn more read the article in Town and Country How Bernie Madoff took His Family Down .