Madoff: The Monster of Wall Street is a documentary released on Netflix on January 2023. It comes out in a particular historical period, while the world is living in a global financial crisis, and the attention towards the big financial scandals in history is relevant: movies like Margin Call have become pretty popular in those years, and reasonably the true story of Bernie Madoff and his Ponzi Scheme (the technical expression that indicates his fraud) catch the interest of many people. This article will tell the true story of Madoff and his investment scandal. We will also explain what a Ponzi scheme is.
You can watch the official trailer for Madoff: The Monster of Wall Street here on Youtube.
Bernie Madoff: the true story of his life
Bernie Madoff was an American financier active in the stock market for five decades: he founded his first investment company, Madoff Investment Securities LLC, in 1960, when he was 22, and he operated as a broker and investor until his arrest in 2008.
Although today he’s famous as a fraudster and the mastermind of the largest Ponzi scheme in history, during the years of his activity, he was a well-respected personality in the American financial world. He was one of the first to use IT to automatize trading, and his technology became the basis for the birth of NASDAQ. He also served as a NASDAQ director for three years.
His brokerage company was very successful, and under his own admission, he didn’t really need any fraud to maintain the…
