He is America’s most notorious financial fraudster, who managed to scam tens of thousands of investors out of approximately $68 billion.
But just how did Bernie Madoff manage to pull off the biggest Ponzi scheme in history? It was a giant con that ensnared celebrities and regular people alike.
Longtime financial investigative journalist Richard Behar grapples with this question in his new book ‘Madoff: The Final Word’, which offers extraordinary access into the mind and motives of the financial world’s most famous conman.
Over the course of a decade and a half, Behar exchanged emails with Madoff, spoke to him on the phone and even paid multiple visits to the North Carolina prison where he was serving his 150-year prison term.
To help others avoid falling victim, the author explained to DailyMail.com the three main reasons he believes Madoff got away with his scheme. He also outlined the warning signs to look out for to avoid falling victim to fraud.
In his new book ‘Madoff: The Final Word’, Richard Behar asks how Bernie Madoff was able to pull off the biggest Ponzi scheme in history
Longtime financial investigative journalist Richard Behar offers extraordinary access into the mind and motives of the financial world’s most famous conman in his first book ‘Madoff: The Final Word’
1. Affinity fraud
Ponzi schemes typically begin as affinity frauds, said Behar, in which the con artist will target a particular group – whether that be an ethnic or religious…
