The Rise and Fall of Madoff's Ponzi Scheme
Reveal - A podcast by The Center for Investigative Reporting and PRX - Saturdays
After Bernie Madoff’s death, we dig into how he pulled off one of the biggest Ponzi schemes in history. Reporter Steve Fishman explores what lessons the fallen financier’s story holds for today. Madoff duped thousands of investors out of tens of billions of dollars, and his scam rocked Wall Street for years. Fishman, who spent years interviewing investors, regulators and even Madoff himself from inside federal prison, traces the rise and fall of his scheme. We learn how Madoff pulled it off and why nobody caught on for decades. We also hear from experts who say investors still are vulnerable to financial fraud, especially in the era of bitcoin and other cryptocurrencies. This show was originally broadcast Feb. 3, 2018.
