The Man Who Stole $65 Billion (Bernie Madoff)

Bernie Madoff, once one of the greatest financial minds and chairman of the Nasdaq, to the biggest ponzi scheme the world had ever seen. It's a wild ride.
#bernie #madoff
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Sources:
www.independent.co.uk/news/bu...
www.bloomberg.com/news/articl...
www.cbsnews.com/news/the-man-...
www.wsj.com/articles/my-sitdo...
money.cnn.com/2009/01/16/maga...
www.wsj.com/articles/SB123111...
www.nasdaq.com/
www.wsj.com/articles/no-headl...
www.bloomberg.com/news/articl...
www.wsj.com/articles/SB112966...
www.wsj.com/articles/SB123549...
uk.reuters.com/article/uk-mad...
www.reuters.com/article/us-ma...
www.wsj.com/articles/SB122903...
www.reuters.com/article/us-ma...
www.nytimes.com/2011/10/27/bu...
www.cnbc.com/2018/12/09/heres...
www.wsj.com/articles/the-amaz...
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Why are you still reading?

[@junaidrezwan]

Bernie did not act alone. The others got away when Bernie handed himself in. And those others, are still active on Wall St today.

[@RobJa]

You are so right there is no way he did this by himself. The money that he stole too is in offshore account that nobody can trace.

[@MatrixExpress]

Bernie "Made off" with the money .. who knew ? .. nobody, apparently ....

[@mikediamond353]

How can One Guy steal 65 billion? NOBODY had ANY idea! That much money simply CANT be TRACED! The big wig wall streeters, AND the federal government were PLACED In those positions by our overlords

[@oicub2]

If he would have waited a couple of years he would have been able to get a deferred-prosecution agreement. Maybe he still can.

[@PatrickMcAsey]

@@mikediamond353 If you use capital letters for a posting then nobody is going to take you seriously.

[@michaels2219]

In 1960 the average family income for a full year was $5,600. Making $5,000 for a summer of lifeguarding makes zero sense.

[@n1kobefan]

There people create their own mythology he came from money end of story.

[@frankdenardo8684]

He did get tips

[@n1kobefan]

@@frankdenardo8684 tips? In what world do you tip a lifeguard? That’s retarded.

[@u.v.s.5583]

@@n1kobefan Sir, would you like to come in my boat? That will be $10.

[@michaels2219]

@@frankdenardo8684 Excellent point!!

[@SerMattzio]

They literally ruined people's lives with their criminality and then they get upset they get hate mail? Amazing.

[@JuanTorres-hs3lc]

She also i DARED to say "beyond anything". Like, bitch stfu lol.

[@GabiGris]

Yeah, european aristocrats mostly 😂 the horror

[@souvikrc4499]

@@GabiGris a British veteran literally commuted suicide over losing his family’s life savings to Madoff.

[@aoki6332]

@@GabiGris your wrong these are house of card one fell then your bank that had Invested your fund and saving as investment j believing it was a safe one just got wipe out and you just lost everything this what happened to millions during 2008 these people play whit the money that belong to you and when they lost it and start to go bankrupt the central bank give then bailout

[@mus139]

@@souvikrc4499 I heard about 18 people commited suicide.

[@celrocc8766]

One of the plastic surgeons I used to work with had less than a year to retire when all this went down & he lost all of that money. He couldn't retire & he had to keep working well into old age, even when his hands were shaky... He was a brilliant surgeon but you have to stop after a certain point & it's just absolutely shameful that after a long & successful career he had no choice but to continue working...

[@ferretyluv]

Madoff scammed Elie Wiesel, yes, THAT Elie Wiesel, out of his life savings.

[@AnnaCN78456]

That is also fault of the US system with no to very low social security in Europe he would be retired. That’s you see elderly working in normal jobs in US people in their 70s that’s not normal in à first world country

[@davisholman8149]

@@AnnaCN78456 We have social security but the great majority have much more invested than that. The highest amount you can get $3,345 in social security. Most people also get either a pension or 401K from the company they work for. There are many other investment opportunities. That gentleman was a high income person who used one of those special opportunities by investing with Bernie Madoff, unfortunately. It surprises me how people from other countries make assumptions about Americans that are so wrong. We really aren’t all in line at the food pantries or living on the street in a tent.

[@davisholman8149]

And I know people who retire & get bored to tears & actually want to work - at least part time.

[@James-du3ym]

He must have been an idiot then because everybody knows you just don't pile everything in to 1 investment.

[@loremipsum7873]

“We had terrible phone calls, hatemail...terrible depression” no shit lady

[@notmenotme614]

Peoples anger doesn’t surprise me when they invested their money with Madoff and he lost it all. It would be like having your life savings taken away from you.

[@Shvabicu]

it was so horrendous...yeah fuck you bitch. Both of them deserved it.

[@iamcooldontyouthink]

i dont understand her saying this lol does she expect us to be sorry for her this pissed me off lol

[@johnvuillemot4805]

@TMoD7007 because nobody can prove she did anything

[@Johl06]

To be fair she's not actually saying they did not deserve those. Just that it was hard... Which you would expect it to be.

[@kulkarniravi]

What is astounding is that everyone believes or pretends to believe that he did it all by himself, and there was no one else involved.

[@joyn7]

True

[@paulmichaelfreedman8334]

Power corrupts and Humans seldom do not fall for it.

[@petebusch9069]

So true and the same can be said about Epstein. Now that he is "dead" everyone actually believes the kiddie porn/sex trade problem is solved and its not.

[@olboitheeinnovatordoanythi8480]

Ravi Kulkarni He Real He took the Fall Like a Real Man I’m proud of Him

[@petebusch9069]

@Kilo Byte I don't doubt that for a minute

[@letterman6546]

"... and another 50,000 from his father-in-law" Ahh, yes. This must be the renowned bootstraps i've heard so much about lol

[@DeosPraetorian]

The funny part is that phrase originally meant the complete opposite

[@AustinWhiteMopar]

Bootstraps = bailouts GM knows this well

[@davidkimani1775]

Bb

[@mario10zeus]

That bootstrap quote applies to the carpenter who started a small business, and by 50 he owns his house, can take vacations, send his kids to college, and live well. When you amass millions like Bernie, you've definitely broken a few laws.

[@maxentirunos]

@@mario10zeus But the thing is, this quote make no sense : you can't physically pull yourself by your bootstrap. Which make the quote incredibly funny when most of all self made men and women are actualy made from parents poney and made their money by turning unpayed labor into profits.

[@patrickmccarron5059]

Sam Bankman-Fried is like "here, hold my beer".

[@ironknightgaming5706]

lol

[@GabiGris]

65>10 😒

[@patrickmccarron5059]

@@GabiGris , yeah - you make good point. But Madoff had a lot more time to swindle more money than SBF. SBF stole more in less time.

[@gg2324]

Belfort, Madoff, SBF, there is a pattern but I can't pinpoint it 🤔

[@Frazzled_Chameleon]

"We had terrible phone calls, hate mail, it was awful!" Cried the thieves who brought it all upon themselves.

[@SandrineAnterrion]

Yeah, pretty sure she knew all along!

[@Stoney-Jacksman]

@@SandrineAnterrion 'pretty sure'? How dumb and naive can you be?? The sons knew as well of course. Open your mind.

[@alessandromagnoni8879]

@@Stoney-Jacksman they both died, one of cancer and one killed himself, they surely knew, i think, and that is what you think as well, but we don't have any kind of evidence, and if you think that making connections based on assumption is proof, then i don't know what to say..... just.... don't open your mind too much, your truths are not everyones

[@alessandromagnoni8879]

@@theetraderoomsss funk off

[@OffTheWagons]

@@theetraderoomsss How many accounts have you made so far? I have been screencapping each one I have found so far and most of them that I have seen were made right around this one was. 2wks ago. Some made a few days ago, a few 7 or 8 months. Wtf are you doing?

[@SuperCosmicSpaceMagnet]

"There was no hard proof so nobody started an investigation". ... :) ? Isn't that the point of an investigation?

[@SpaghettiKillah]

Yeah that's like sayin' police finds a body and they start an investigation *ONLY IF* the murderer is next to the body with a knife in its hand 😂😂😂

[@notme-sm6zb]

No. How can you start investigating someone without a clue?

[@SuperCosmicSpaceMagnet]

@@notme-sm6zb idk lol let's just not investigate stuff and hope the bad men turn themselves in.

[@pikenote]

@@SuperCosmicSpaceMagnet He was someone high profile and thus most likely people had no reasonable cause to launch and investigation. Also, they need more concrete proof to start an investigation because if they started an investigation for every single claim, they would be hemorrhaging money. It is not economical nor efficient to start an investigation for every single case. If they are sure that there may be something going on, they would dedicate the people and the money. Dedicating both of those with reasonable doubt is not a way to go for any entity.

[@cyrilnwaguru]

Sometimes ppl are investigated when the FBI feel they have enough evidence. Doesn’t have to be major or factual but if they feel as if it will lead to what they’re looking for, they can investigate prior to having a lot of hard proof.

[@n.t.5082]

And Today 14 april 2021 he died at the age of 82 (IN The end he didn't fight he admitted his crime ,he offered his remorse but offered no Excuses)

[@MrParanoiaAgent]

What he did was so horrible, but I still feel bad for his family, especially his sons. You can tell they felt real remorse, and honestly the end part about him not even having someone to talk to and his sons being dead hit pretty hard. His fate truly was worse than death, I don't think I'd want to live with my sons dead and my wife not speaking to me.

[@nate567987]

well he is dead now too

[@alvi5331]

Exactly right. I feel bad for his sons and their families.

[@johnmaguire8630]

Screw all 4 of them. His son’s didn’t turn him in due to a moral obligation. They did it, after consulting lawyers, to avoid getting caught up in dad’s fraud case. Madoff and his wife even tried to take the easy way out and are now living in a fragment of the hell they forced countless victims into, some still haven’t recovered and even committed suicide. Feel bad for those people and THEIR families, not the people who lived decadent billionaire lifestyles for DECADES, lying and scamming the ENTIRE time. Screw Madoff, screw his family, everyone involved and screw the regulators who declared victory and went home after his conviction rather than pursue his co-conspirators.

[@UsmanX]

I love these origin stories, 'he started with 5000 from a lifeguard job, and 50k from his father in law, that's 450k in today money'. So the dude had a rich family with money to spare 🙄

[@OOOOO0KKKKKKKK]

i don't think it was really 450k

[@comdymaster2163]

@@OOOOO0KKKKKKKK YUP

[@swine13]

@@OOOOO0KKKKKKKK that really only matters insofar as it helps us draw a relative picture of the amount of wealth being talked about. Unless its significantly deviant from the real inflated value, the exact number is arbitrary because it's a hypothetical statement.

[@slimpickens3863]

That means he made 40-45000 As a lifeguard. In today's money 😏

[@7evive]

@@OOOOO0KKKKKKKK you need to realize how life was easier before

[@kefkapalazzo1]

“If you steal from a Greek we come after you” lmao what is this the wire

[@shackwove]

I'm not even greek

[@kefkapalazzo1]

Kweyzo read my mind

[@RedStefan]

One simple cannot rob the robbers

[@bdegrds]

The wire? ... THIS IS SPARTA!

[@pinkpenzu]

No this is real life

[@Spiralogy]

lol, never fails to amaze me... "5000 of his own money... and 50,000 from a wealthy relative, just a small loan!"

[@donaldchesser157]

There's no way that one man single handedly fooled the whole financial industry

[@ddmarty]

I agree. Many people knew what he was doing. Ruth knew, but she liked the luxury too much to make him stop. Sad thing is, he was a millionaire without the scam. Greed.

[@RJKT]

It was never one man. He's a jew that tells you all you need to know.

[@michalsoukup1021]

Yes, it tells me that you think race is real, which makes you an idiot and invalidates anything you have to say.

[@Pyxlean]

​@@RJKTOh look, a Nazi in the wild.

[@harshitgupta6856]

Video title should be: “The Man Who Madoff With $65 Billion Dollars”

[@khongisono6962]

😂brilliant!

[@heraldomedrano6993]

What was Jewish?

[@alphawolf4643]

Harshit Gupta thank you! I was gonna comment something like this, but I wanted to make sure it wasn’t already done!

[@rajivmvg]

Lmfao ..lol

[@tmommadukes1309]

Hahahahaha! Harshit Gupta ^^^ Great comment!!! 😁

[@shanmango]

My biggest takeaway from this video was that he earned the equivalent of $43,470 working as a lifeguard over the summer. How???

[@subscriberswithjustpicture]

By saving rich people only, and he was fairly compensated

[@Cel2333]

He made 5k from being a lifeguard and the rest his dad gave him

[@Mark-vn7et]

Angami Accent dude ever heard of inflation, in the 60s you can buy a brand new car for that money. Ever had a summer job that paid an new car?

[@feetpictures]

@@Mark-vn7et yes

[@alexalexandrakis8205]

So he made 5K in one summer working as a lifeguard? Hmmm. something not quite right here.

[@richardt1792]

I guess greed isn't good. Remember, Smith Barney said, "we make our money the old fashioned way, we earn it." Simple rule to live by. It shocked me how many people were willing to give Bernie millions of dollars with a guarantee of high returns consistently. No market works that way. A few financial experts called out Bernie and said he had to be running a Ponzi scheme.

[@cyphi474]

Because, they can make money of it, before bubble cracks. If you invest lets say 1M and you get lets say 1.2M back, after 5 invest cycles you are on your own, even if it happens to crack. Everything above that is profit, so as far as ponzi keeps going, you will still be profitable. And when it cracks, you lose only that 1M. Its no lose scenario. You can even double your investment after that, but your risk is still only that 1M. For smarter ones. Stupid ones will keep filling everything back into scheme and lose everything. But if you play it smart, you can make legally lots of money on this scam. Only loser, besides idiots, is ponzi cheme runner, but you can always say "i didnt know anything". Nobody can take your money away, because you did nothing illegal. Thats why everyone pretended they had no suscpicion. Not at all......

[@carlenger9707]

The fact that I lived through the crash of 2008 but don't remember it freaks me out for some reason

[@00shivani]

same! well I was only 8 years old for that, but I think about how blurry the covid 19 years feel, or the whole SBF crypto bust only 1-2 years back and me not even knowing he existed lol, i was really in my own world lol. i think it is felt most by the people who are hit hardest. life is a trip

[@BollywoodBonanzaB]

"He started with $5000" Oh cool even I could d-- "and $50,000 from his father in law" Oh.

[@Sticky1254]

welcome to why rich people stay rich

[@swine13]

@Dark Shield what difference does that make? Its not happening now, it happened then... when $5000 was worth $5000.

[@adert90]

@@swine13 You should look up the word "inflation".

[@Oneofakind123]

Hmm. Sounds familiar. A small loan of a million dollar.

[@kerfuritogonzales]

@Dark Shield imagine making 40k with a summer job today

[@wt8213]

Can we all hold on for just one second here. The man made $5k as a lifeguard in the 1960s. Thats $40k in todays inflation.

[@marcusp905]

I want this job i like swimming and looking at 👙women

[@ed8212]

@Sqammer Fn not in one summer

[@loubirch4179]

I was about to write this comment myself hahaha

[@danwilliams4089]

Lol had same thought

[@Moonbaby001]

And that was just his summer earning as a lifeguard! 3 months?! 10k+ a month?? Makes no sense.

[@bernardlemay8563]

I've been binge watching your playlist lately. You don't need to say the next episode is a good one. They're all good ones.

[@incongruousinquiry]

I just stumbled across your videos, I love your channel! The way you go out of your way to locate appropriate footage and photographs instead of just, like, using stock footage of a guy counting cash or whatever - it's a cut above!

[@treborironwolfe978]

The fridge reports give "cold case files" a whole new meaning.

[@jonnyc429]

Some of them are said to be quite chilling.

[@rounakmukherjee1009]

Biggest turn was at the end when it showed that both the sons have passed away. Damn.

[@oppamaclare]

Yes, they're gone now ..... but where?

[@ianL-S]

Yeah my mom went to school with the one who killed himself and said he was a genuine person and super friendly. When she found out about the whole thing she was disappointed in him.

[@TheBobiaan]

Everybody loses..

[@ConsensusX]

7:51 gotta love the sheer panic and urgency in that reporter's voice! Really makes you relive that moment.

[@prasad1287]

I just recently stumbled upon this channel and I LOVE IT!

[@nategg481]

You know why he's in jail? He stole from the rich.

[@aurelianspodarec2629]

No?

[@MultiNudelauflauf]

He stole from everyone. And even if he only stole from rich, its not like he was a modern Robin Hood. He is a man of greed so he deserves every year in prison.

[@Genevieve1023]

@@MultiNudelauflauf I think the OC's point is that if he had stolen mainly from poor or middle class people, nothing would've been done about it and he'd still be free.

[@Lyle-xc9pg]

He stole from everyone, not the super rich though. Moron

[@TupacMakaveli1996]

He made them rich on other people's money then their money was considered to be stolen ehehe

[@TheGloriousLobsterEmperor]

"Steal from the rich, you get thrown in prison. Still from the poor, you get called a financial hero."

[@pauljimerson8218]

Madoff was Vintage top ten for sure

[@johnvuillemot4805]

Who ever said that clearly doesn't understand economics

[@ddandymann]

@@johnvuillemot4805 That wasn't a economic point, it was a sociological/ psychological one.

[@hazzasazza444]

Henery McGregor not economics more socio-political

[@johnvuillemot4805]

@@hazzasazza444 yeah...i kinda get it now. Then again i dont think this guy, or most billionaires, steal from the poor. Rather people have just inflated slights agaisnt minorities to the point giving bad financial advice is conflated to stealing

[@s0rella777]

This is a sad story. A lot of people committed suicide after losing everything they had. I believe his son's handed him over to the Fed's. Also i believe one of the son's committed suicide very very sad. And the wife saying we had terrible phone calls and threatening email. What did she expect after what this fool did for money.

[@dongyongkim]

Good to see that at least their kids had the backbone to turn their dad in

[@williambennett4360]

*Getting up to go somewhere* *Sees ColdFusion video* *Sits back down*

[@pip_rake]

So so like me!

[@pip_rake]

@Austin Martín Hernández and it's 10pm in East Africa. Small world!

[@KabzieMusic]

You’re an excellent story teller mate.

[@_Super_Hans_]

thanks

[@_Super_Hans_]

@Lee no problem

[@finalcionide]

thanks

[@finalcionide]

@Lee thanks

[@finalcionide]

@Lee thanks

[@jefferysterner]

The moral of the story is if you're going to rip someone off and hope to get away with it, make sure it's not the wealthy you target.

[@sourishsaha8067]

Bernie Maddoff Steals 65bn$ Meanwhile Elon Musk: Hold my twitter account

[@DCMarvelMultiverse]

I don't believe people like him, the One Coin lady, or the Theranos creep are so charismatic that no one questions them, especially fellow business people. Game knows game.

[@gordonaliasme1104]

Holmes was young and glamorous. Easily fooled people, especially President Clinton

[@Itskilo]

"For what profits a man if he gains the whole world but loses his own soul"

[@fvckyoutubescensorshipandt2718]

Fuck it, give me the world since souls are fake and don't actually exist.

[@aakarshchaudhary7359]

@@fvckyoutubescensorshipandt2718 Soul don't exist but your essence, humanity and sense of community does, if you don't follow it god won't punish you people will.

[@fvckyoutubescensorshipandt2718]

@@aakarshchaudhary7359 Fuck 'em, they are welcome to try.

[@fvckyoutubescensorshipandt2718]

@SS Simple: Chaos Theory (that doesn't just deal with chaos but how patterns emerge from randomness all by itself with no outside intervention, sometimes even with the simplest equation to describe it. eg Mandelbrot sets). Life doesn't need a creator when ultimately it created itself, so it isn't all that special and certainly not magical even if it is somewhat unique (reset to the same initial conditions and you won't get the exact same course of evolution). In short there's nothing different between a live guy and a dead guy, just a loss of patterns and organization. Not much different between a wind blowing dunes in sand and then shifting and erasing them.

[@shaunnaidoo8811]

65billion!!

[@ScorpionInTheBag]

So many things that have been thrown in our faces as examples and pinnacles of success , for generations have crumbled into hollow ruins

[@user-kh7mm2he8b]

When Madoff was in Butner, only 3 people had “approved” visitation. His wife, his Attorney & a guy named Rich Towsley from Sarasota, Fl

[@kevinbyrne4538]

Even officials at the US Federal Reserve thought that Madoff was a brilliant financier. He fooled everyone -- except Harry Markopolos, who determined that Madoff's success was impossible.

[@shoazdon7000]

Yeah that’s what they told everyone lol

[@maureenokonkwo-zy4bw]

And that was the beginning of scams in the world.

[@DIYBill]

I am a very simple man. I see a cold fusion video I hit like.

[@127.]

You are not simple then (~_^)

[@mikediamond353]

Hey, I like that! (*)

[@markmoz]

How original.

[@monkeyrobotsinc.9875]

stfu no one cares trust me.

[@PatrickMcAsey]

Do you mean simple in the head - or what?

[@MariOfTheMountains]

I think the fact that Madoff started with $55000 but 90% of that was from his dad, showed how even with a scam, he probably couldn't have gotten nearly as far as he did without generational wealth. For honest investors as well, that's a fact of life that contributes arguably more to success than just their intellect and drive.

[@lashutterbug]

You guys missed two GIANT points. First off, you don't even mention the efforts of Frank Casey, who provided Markopolous with the details needed to go after Madoff, and did so over several years, on his own tab. Look up the documentary "Chasing Madoff" (among other films) & you'll find him. Second, the main reason why Bernie turned himself in wasn't because of the complaints from his victims; it was because at the point of the 2008 crash, he had essentially run out of "legitimate" investors, and the bulk of the money coming in was coming from organized crime, most especially the Russian mafia. Bernie knew that if he stayed on the outside, he was a dead man. Thus, he went to prison to stay alive, and it worked beautifully, from his perspective.

[@shimmonlezama2258]

All of your videos are so well researched. Helped me pass an exam also lol. Thanks bro.

[@GOF-pk9mg]

He looks like a Scooby Doo villain.

[@theetraderoomsss]

Have you heard about Bitcoin investment the best way so far to invest the little you have and gain more profit within few days if you're interested in knowing more about Bitcoin you're free to inbox me on WhatsApp [phone].

[@DacLMK]

This more reminds me of Death Note.

[@Keys7]

😆😆😆😆😆😆😆😆😆

[@NJGTV]

LOOOL

[@toptenguy1]

"And I would have gotten away with it too if it weren't for those meddling investigators!"

[@scottfuller1711]

Question: What life guard on what planet could earn $5000 in 3 months in the 1960 economy? Whatever the ultimate scapegoat was doing then for money had nothing to do with being a life guard.

[@samuelfreeman8571]

Your music is so 🔥 I get chills at every intro to a video.

[@ki6eki]

Imagine losing your life’s saving to this scam

[@rykehuss3435]

Imagine not diversifying your life saving investments

[@krisoluich9119]

Michael Choe I know several who did. Clawing ones way back to solvency isn’t pretty.

[@krisoluich9119]

Rykehuss Imagine there’s mainly a corrupt field into which one can “invest”.

[@ArtSmosh1274]

@@krisoluich9119 You shouldn't invest your life savings

[@ArtSmosh1274]

Why did the invest there life savings

[@Dendelin007]

it still is somewhat lost on me how one makes 5k working as a life quard in the 60's, like whaaat

[@vanillamarshmallow]

I’m about halfway through the video but this is all I can think about lol

[@vanillamarshmallow]

I’m about halfway through the video but this is all I can think about lol

[@ididntmeantoshootthatvietn5012]

He saved rich only, maybe?

[@Dan-uf2vh]

@@ididntmeantoshootthatvietn5012 Crassus style: pay up or drown ^^

[@joelhadfield5205]

To be fair the video just says summer job, doesnt specify how many summers he did the job. He could have worked for four or more summers saving up. Still does seem like a high wage for the job, but he could have been working at a country clubs pool or something similarly higher end.

[@arashmes6273]

Hats down to your Excellent video ColdFusion

[@dawncoffinberry1469]

RIP Mark and Andrew and thank you for turning in your father. You did the right thing. Bernie will rot in prison.

[@troodon1096]

Well, indeed he did, he died in prison in April 2021 at the age of 82.

[@bmagic2522]

How can someone say he was the best trader? He never traded anything

[@llama-berry]

Spoiler alert: He robs someone on the street carrying 65 Billion dollars in coins

[@fvckyoutubescensorshipandt2718]

Not likely, even $100 bills is 715 tons = 36 semi truck loads.

[@LSSTmusic]

aw dang it, now i can't watch the rest of the video

[@llama-berry]

@@fvckyoutubescensorshipandt2718 yeah because i was totally not being sarcastic

[@llama-berry]

@@fvckyoutubescensorshipandt2718 yeah because i was totally not sarcastic

[@sashimiroll5055]

“It was December 2008” *OH NO* (7:35)

[@cfalcon8342]

Wow this is a crazy story. Thanks for uploading

[@buisnessidea5692]

imagine how pissed those office workers were when they found out the could of gotten a 200mill bonus divided among them, but his son turned him in. LMFAOOO

[@sallybugs1695]

Of course you can't trust whoever said that

[@tattie278]

Even if they got their bonuses the receiver would have clawed it all back.

[@NamhadiNdemufayo]

It was basically stolen money, I doubt they'd have been allowed to keep it.

[@RainbowManification]

Keeping ill gotten funds would’ve made them accomplices in the scheme.

[@simonrook5743]

Memelord McMeme Which is why the sons turned him in, had they gone through with that they WOULD be accomplices, there chance of not being held as accomplices to the whole scam would decrease significantly.

[@colekennedy-gooch6861]

Man, it broke my heart when I heard that one of his sons committed suicide after all this. Imagine getting so much hate for your fathers actions that you are driven to suicide

[@maggiemae7749]

Most likely he was in on it. Remember we are not going to be told everything

[@moimeself1088]

The son killed himself on the 2nd anniversary of his arrest to dig the knife in. Having said that, i still can't believe they didn't know. They ran the business with him, how could they not?

[@15seconds3]

Mark Madoff didn't commit 'suicide.' Curious Andrew, the younger brother died of 'cancer' 4 years later.

[@johnadam3707]

I will change my last name and new identity it can happen

[@mitchellgrand3724]

@J d with enough money you can do anything! Every man has his price. In China you can get anything.......

[@firefootball7]

Guys you See YAHOO in the stock Market at 8:03, Really alot has changed in 15 Years

[@Extra_Depresso]

i was reading about this for my research paper in accounting and I discovered this channel and prayed there was a video on it. Thankfully, there was and it was point on.

[@Cel2333]

Are we going to sit here and accept that Bernie did this all by himself? Lol

[@juliebabin4635]

Exactly ! Gotta be a huge story there.

[@benzofrenzzz7377]

Maybe, but you have to be careful about who you point a finger at. I've always felt his kids were innocent and paid a price they should never have had to pay for his horrific greed.

[@DavidThomas-fb8bq]

Yes, he's a self made man. LOL.

[@Someb0dy1Day]

He was the mastermind of it all. He made every executive decision, the guys at the top always take the hardest fallout, regardless of other people's actions.

[@dannydev4294]

Are we going to sit here and accept that Bernie did this all by himself? Lol

[@DarinHibbs1]

His name was actually "Made off".

[@capmendonca]

The mad is off

[@rickyyanto6181]

Mad Dog

[@kevinimp8217]

what was he made of

[@ymvtech]

@@kevinimp8217 He made off with the money

[@nczioox1116]

Well at first. Then he lost his fortune, reputation, freedom, death of his children, wife. Basically lost everything.

[@nemeanlioness]

sons were like oh hell no, your not giving out our bonuses

[@JJJRRRJJJ]

Wow. I thought this happened in like the ‘80s lol. Can’t believe it was when I was in 8th grade.

[@jamesjones-uy1dy]

Can't believe I just stumbled on your channel. So informative.

[@kingjames4886]

"we tried to kill ourselves but we were too stupid."

[@Scorch428]

Thats prolly why they also invested 100% of their money in stocks....without diversifying

[@bupsmertozkal]

@@Scorch428 "100%" for sure buds. They probably have over a billion combines overseas. The man created a future for the upcoming 10 generations only to spend the rest of his life in "house arrest", while none of his accomplices ever got charged and are coming up with new schemes every day. So the real question is, is he the one stupid, or are you the one that is truly stupid?

[@Group_Anonymous]

They swallowed a bunch of fish oil capsules 💊

[@webbtz3591]

@@Group_Anonymous They swallowed non kosher food.

[@suprcrzy]

@@Group_Anonymous - Bwahaha! If anything, they were healthier when they woke up! Genius strategy TBH!

[@nathanaelmccooeye3204]

Clearly a well made video. As someone with less knowledge about the realm of finance and economics, I would’ve benefited from more definitions and contexts. Thanks!

[@yoshimitsu8643]

This is one of the best chennels on KZbin

[@OmarExplains]

Excellent work as per usual my man.

[@aliibrahem3691]

عاش من شافك والله زمان عمر

[@Eric-rm4uu]

Such as soothing voice, I could listen to him all day

[@roketootoo1136]

This channel has the best music!

[@jasonpalmer4344]

Love your videos

[@LordThorez]

Kinda strange, I really didn't want Bernie and his wife to die and was relieved when they didn't. Almost dropped a tear when hearing what happened to his sons. Cold Fusion is an artist.

[@536767676533766]

that you call karma dude, you do bad things nature kicks back. why you think all drug lords end deadth or in jail Doing bad will not stand how rich you are. Nature is always king

[@promethium-145]

@@536767676533766 Nature isn't king, nor is "Nature" the one putting drug lords into federal prison. You can thank the FBI for that, they're the ones doing this. Also, not all drug lords or criminals get caught.

[@LizardVideoDude]

I'm glad Bernie and his wife didn't die, but for a different reason. That was the easy way out - he needed to face justice and be punished for his crimes.

[@YelFlux]

@@536767676533766 drug lord that get know go tell this to me zabamda family they are doing just fine and he'd the real head of the sinaola cartel. Next thing you know he get kill while writing this

[@AboveBeyondVapor]

We should rename "Ponzi Scheme" to "Madoff Scheme" Way better new phrase

[@tomlxyz]

Why? Ponzi did it way better getting even those who were supposed to investigate him to start investing in him

[@ilikemathematics1590]

tomlxyz because he ‘madoff’ its all the money.

[@DhirC35]

@@tomlxyz 🤣🙏🏽

[@lordgrumbot167]

But Ponzi is the guy who popularized it, it wouldn't make much sense

[@maureenogorman8740]

Give Ponzi credit for being first to market

[@moonkraab]

Liking the background music: Carbon Based Lifeforms :)

[@aliikane]

The guy was a Chairman at Nasdaq. You can't really get any higher in Wall Street in terms of power and status. The SEC refused to investigate him because of his status in Wall Street and ties to Washington DC.

[@avandurion]

Isn't Markopolos the guy who is accusing GE of cooking their books, wow just wow.

[@dopemusic6414]

Patryk Matusiewicz His hips don't lie bro.

[@alfa77qwx13]

What is meaning of '' cooking their books ''?

[@jamestest6371]

alfa77qwx forging their earnings, thereby avoiding taxes. Cooking=editing Books=balance sheets

[@myathegrandma]

@@jamestest6371 thanks for the explanation!

[@stefangrib845]

What's your profession?

[@MyName-fr3nf]

You know it's going down when you hear, "HOOIII, welcome to another cold fusion video."

[@furn2313]

I love these videos

[@MsTinkerbelle87]

@10:49 fluffing a duck plays in the background 😂

[@krisoluich9119]

Now do a video on the Hedge Fund owners who stole $5T of the Baby Boomers’ life savings in 2008; and not a single one went to jail.

[@ArtSmosh1274]

Lol😂😂😂 why did they invest there life savings

[@normandbisson6767]

The Banking system cannot be trusted in USA ! You can call them Bankster! Not so much in CDA.

[@xponen]

@@ArtSmosh1274 investing your life-saving prevent it from being depleted, it is extremely dangerous if you retire and getting old with no money.

[@towlie911]

Ok boomer

[@Brahmdagh]

Word of advice: Don't invest in US economic machinery. It's too corrupted. And the thiefs own the legislature. Invest in Japan/EU instead.

[@denniss3980]

Madoff problem was he did not steal enough money, had he stole over 100 Billion he would have been labeled "TO BIG TO FAIL" and would have been protected from prosecution

[@terriesmith8219]

Sad but true. Lol

[@my5cents4u]

he was a head on a pike and a scapegoat for the Deep State! The biggest collapse is yet to come and Trump will then blame it on the Fed!

[@yujishinohara1uponatime]

2----(too) BIG 2 fail

[@djcaron5202]

Honestly idk if I can say this would be true. We see other countries fail all the time. Even if the pot is big because there's more money to be made when there is recovery.

[@djcaron5202]

@@my5cents4u it won't happen during trumps presidency.

[@badman477]

“If you steal from a Greek, we come after you” 🤣🤣🤣🤣

[@Tim-Kaa]

Excellent video

[@dewiz9596]

Madoff was his middle name. His full name was was “Bernie Madoff with the Money”

[@creatorsremose]

This is the most boomer millenial joke I've ever seen in my life.

[@carojames6776]

So glad he hadn't Madoff with any of my money ..

[@PatrickMcAsey]

Wow! What a startlingly original sense of humour you have.

[@boombaby1769]

Well, that's one really crazy story. I just read the Wikipedia page and it's really unbelievable how much damage this guy has caused. It just doesn't end.

[@TheInternetLove]

An Instant Gratification🙏🏾

[@imt952]

Interesting video I recognise the music at the beginning though, it featured in a psychill mix i listened to the other day... Weird

[@insomnia2259]

ColdFusion has given me so much knowledge about the world and he keeps on doing it. I appreciate Dagogo dedication to the way he finds out the truth. True teacher for me

[@jessicatale9909]

I never understood the "stock". $65 billion gone ? To where ? Heaven?

[@blueandwhiteishere1287]

Jessica Tale its reallocated away.

[@SJ-cv4jk]

$65b of people's money gone into other people's pockets

[@ididntmeantoshootthatvietn5012]

@@SJ-cv4jk but where the ponzi schemer get the profit? Explain pls

[@rafamainha]

@@ididntmeantoshootthatvietn5012 He profits while he's at the top of the scheme in the early stages, when the flow of cash is positive to his side. But, when too many people want their money back and less people get involved in the scheme the flow of cash is ''negative'' to the "Owner" of the scheme. Well, you need to see the big picture: he promises endless returns because he promisses that the money that goes to the scheme is invested somehow but this isn't true so he doesn't have money to pay back, and when there is too much people involved the amount of money that he needs to pay is like, 100 times more than what he does have. He only can profit of this if he give up like, 2 to 3 years after the begining of the scheme but he is well known on the market and stuff so he was a double idiot by doing this cause he wouldnt disapear.

[@ididntmeantoshootthatvietn5012]

@@rafamainha ok thanks

[@Ctworld15]

Excellent doc!!

[@xseazz]

Great vid

[@veganchaatparty]

Wow.....What a video...The super high-quality content and the dept of storytelling is so superb....its as good as it can get...superb work!!! Super thanks!!!

[@prasanthvpolavarapu7966]

Coldfusion TV is one of the best channels I ever subscribed. Thanks for such an informative videos bro. #UnderratedKZbinChannel

[@purplerain2740]

your music ROCKS!!!!!!

[@simisondebele5867]

thank you for this video

[@lewisburton1852]

This guy and his family lived amazing lives of luxury, kids probably had an amazing childhood, but good ole Karma never fails.

[@lewisburton1852]

@@zdenkozorko8974 Sure it does but when it doesn't we say Karma! You overanalyzed the shit out of it. calm down socrates.

[@jacobriis7859]

Don't forget that those investors who exited in time made a profit. Not everybody lost on the scheme.

[@fvckyoutubescensorshipandt2718]

sadly most didn't exit, they just "let it ride" too long. the vast majority only got 30% of their money back (if any at all, biggest banks probably get priority).

[@moimeself1088]

There was a process to make them pay it back. Can't remember what it's called, but those who lost got a bit back, and those who gained were made to pay back the profits. The ones who invested via hedge funds lost the most bc it was so muddled and the record keeping was so opaque. There's a good documentary by the son of one of the victims. Can't remember what it's called though, sorry.

[@dude999642]

@@moimeself1088 "Clawback"?

[@moimeself1088]

@@dude999642 that's the one! Thanks!

[@CuriousKase]

Do you get any copyright claims for the news clips that you have used and other old footage related to the case? I am looking to start a similar channel but cant wrap my head around the copyright system. Did you license these specific photos or how do you go about it? Any help would be appreciated, thanks!

[@abiddiba]

That Harry Markopolos looks a bit like the guy from Better Call Saul - and both worked in law lol