Madoff Doc - Netflix

[fourstardan]

Just finishing off on this, its well done with footage of him and the victims.

Will we ever see these sort of scams again?

[Petrus1983]

fourstardan said:

Just finishing off on this, its well done with footage of him and the victims.

Will we ever see these sort of scams again?

110%. He wasn’t even Charles Ponzi for which the ‘scam’ is named after and I dare say when the dust settles on the $54bn Sam Bankman Fried case it will be very similar too.

[Tagteam]

fourstardan said:

Just finishing off on this, its well done with footage of him and the victims.

Will we ever see these sort of scams again?

The fact there was zero trades - I doubt it will be seen again . Quite unbelievable . Including the guy writing to the SEC saying there aren’t enough futures in the market to cover the strategy . And no one listened .

[MesoForm]

fourstardan said:

Just finishing off on this, its well done with footage of him and the victims.

Will we ever see these sort of scams again?

Almost at the end of the series, fascinating how he could get away with conning so many people for so long.
We’ll always have smaller scams (search for Coffeezilla on YouTube for regular NFT / Crypto scams that keep popping up) but I can’t imagine people will get fooled again for so long and for so much money.

[Gompo]

Can anyone compare it to the De Niro film Wizard of Lies please? I've had the film recorded for ages and intended to watch at some point soon, I'm wondering if it is still worth watching or going straight to this documentary?

[fourstardan]

Petrus1983 said:

110%. He wasn’t even Charles Ponzi for which the ‘scam’ is named after and I dare say when the dust settles on the $54bn Sam Bankman Fried case it will be very similar too.

Good point, some of these high profiles are too big to even remember!

I actually got caught up with a few pennies (luckily) in a platform called football index, the patterns were rather similar with the Ponzi.

You must have something humanely programmed differently to be able to work the level of Madoff did.

[Ice_blue_tvr]

I don't fully understand why he ran the legit side along with the ponzi and not simply unwind the ponzi scheme early on?

[KAgantua]

Because money.

surprises me there was no drive to investigate him earlier. Wonder if he had some dirt on people?

[daqinggregg]

I think the strange thing about the Madoff case, was it spanned so many years.

In addition, the fact the guy writing to the SEC saying there aren’t enough futures in the market to cover the strategy, is pretty damning of the FEC.

[BobToc]

SBF is in all sorts of trouble, but his alleged fraud was quite different to that of Madoff.

[fourstardan]

Ice_blue_tvr said:

I don't fully understand why he ran the legit side along with the ponzi and not simply unwind the ponzi scheme early on?

The G word....Greed!

I guess there are plenty of people in the financial markets that swindle and manage the swindle enough under the radar to get away with it.