Bernard Madoff: 65 Billion Dollar Swindle

[Giordano Bruno]

Just in case anyone is interested and unaware. It's a documentary.

[exiges]

It's a documentary.

Yep, because you couldn't make it up.

[Giordano Bruno]

Yep, because you couldn't make it up.

[Giordano Bruno]

Did we ever find out where the money went? Was it to Mossad and the State of Israel? O r the Russian oligarchs/mafia (6 of the 7 are Jewish).

Just what do you do with $65 billion to make it disappear? It is not actually possible to spend it, is it.

I'm no expert but I believe that when a ponzi scheme collapses it's because the people withdrawing are too many for the new 'feeders' joining to fund. So apart from the expenses and cream-offs that Madoff took himself and paid to staff, I think the rest would have gone into paying off withdrawers. So the punters who pulled out early got most of it. Just my take.

[juvenal]

I'm no expert but I believe that when a ponzi scheme collapses it's because the people withdrawing are too many for the new 'feeders' joining to fund. So apart from the expenses and cream-offs that Madoff took himself and paid to staff, I think the rest would have gone into paying off withdrawers. So the punters who pulled out early got most of it. Just my take.

Wasn't Madoff paying 10% per annum interest to his big 'early' investors for many, many years before the bust? They thought he was a genius, giving a market beating return year after year.

They thought he was a brilliant investor, while he wasn't investing funds at all. Just paying the first clients with later punters funds.