The ingenious scam of a talented scammer and its ambiguous consequences (7 photos)
Financial pyramids are an ancient phenomenon. It is believed that they appeared in France at the beginning of the 18th century. And since then one of the most honest methods of taking money from the population destroyed many destinies. AND enriched the founders. 
What is remarkable about this side of life and work financier Bernie Madoff (1938 - 2021) was unknown even to his family members. Meanwhile, in 40 years of fraud, a man managed to enrich himself by a very a substantial amount of more than 64 billion dollars. 
Bernie and Ruth
A boy was born in Queens, in a poor family. When Bernie's father lost his job, the only source existence became the funds received from trading on the stock exchange.
In 1960, the guy graduated from Hofstra College in New York, met a girl from a wealthy family - Ruth Alpern, who became his wife. First money earned - 5 thousand dollars Bernie used to start his own company Madoff Investment Securities.
Things went slowly, not without the help of an influential father-in-law, who helped raise funds from his acquaintances. But the level was the one dreamed of by a novice businessman. And Madoff really made a breakthrough, becoming a pioneer - began to conduct trading in electronic form. 
With wife and sons
And Madoff Investment Securities entered a fundamentally new level. After 20 years, the company has already carried out 5% of the total number of transactions New York Stock Exchange. Maddoff involved relatives in the work - brother, nephews and sons.
Remarkably, they were all firmly convinced of the legality business. After all, Bernard has established himself as a businessman crystal honesty. People - both simple and status trusted him funds, investing them at 10-12% interest. 
Naturally, some had doubts. Yet in financial matters unconditionally cannot be trusted to anyone. But Madoff offered all doubters to calmly withdraw their money at any moment. This subtle psychological move bribed investors, including which were such celebrities as John Malkovich, Larry King and not only.
It must be said that the man made huge donations to charitable purposes. After the death of his nephew from cancer, he regularly donated funds to cancer and diabetes research. Sponsored cultural and educational institutions. 
The funds of investors were directed by the founder to industries with low risk. Regularly paid interest, and spent excess profit on all sorts of nice things like villas, cars and travel.
In 2008, the economic crisis struck. No new investors expected, and payments were to be made. Then Bernie gathered everyone relatives and made a confession: the company is really a classic pyramid. And he will put everything in order in a week and surrender himself the authorities. But the sons used preventive measures: they, fearing attraction for complicity, did not wait for a week-long delay and themselves handed over the father to the police. 
In prison
Bernie admitted to all the charges. Didn't try go into hiding and agreed that all of the company's machinations were in line with classic Ponzi scheme - an investment fraudulent scheme, in which under which profits to earlier investors are paid for later funds account. At the same time, all participants believe that she is result of legitimate business activity.
The founder himself after the announcement of the verdict - 150 years conclusion breathed freely. After all, he did not need to shake anymore and worry that the scam will be revealed at any second. upset only betrayal of sons. Only the wife visited the businessman, but the children gave Ruth an ultimatum - either they or her husband. The woman chose the first...
However, a kind of retribution overtook the traitors quite soon: the elder Mark could not withstand the pressure of the public and settled scores with life in 2010. The younger Andrew died four years later. oncology. 
Shot from the movie "Liar, Great and Terrible"
The great schemer himself died in a North Carolina prison in 2021 aged 82years due to natural causes. Adventure and filmmakers dedicated the series to the misadventures of a humane swindler Madoff with Richard Dreyfuss and the feature film Liar, Great and Terrible" with Robert De Niro.
