Bernie Madoff Scandal Explained. Bernard Lawrence Madoff ˈ m eɪ d ɔː f MAY-doff. While many people are shocked by the news of Bernard Madoffs apparent Ponzi scheme affecting as much as 50 billion from a range of investors Steven Barnes is focused on rebuilding his life and navigating a changed world.
He certainly had no financial need to bilk thousands of clients out of billions of dollars. But what is known is. With the deteriorating clients the existing ones also.
The story of exactly how Bernard Madoff kept a 50bn 34bn fraud silent for what could prove to be decades may never be fully known.
Robin Kaiser-Schatzlein is a journalist who writes about economic life. Financial con men that are accused of or have commited crimes similar to those of Bernard Madoff. This video provides a simple overview of the scandal. One of the most puzzling aspects of the Bernie Madoff case is the question of why he ever committed the fraud.
