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Make it or Break for It

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Published 02/10/2020

What happened?

After serving ten years of his 150-year sentence, conman extraordinaire Bernie Madoff requested an early release from federal prison. (He suffers from chronic kidney failure).

Remembering the Rip-Off

Bernie perpetrated one of the largest financial frauds in history! His investment firm was essentially a multibillion-dollar Ponzi scheme that ripped off dozens of people.

  • Balancing the books. Madoff’s former clients claimed losses of over $17 billion. So far, the courts have returned roughly $12 billion to his victims over the past decade.
  • Celebrity adviser. Madoff’s firm boasted A-list clientele like Kevin Bacon, Larry King, John Malkovich, and the New York Mets.

How does it affect my wallet?

The Madoff ripoff should serve as a lesson to investors everywhere. 

  • Remember! Don’t get hung up on big names or prestigious client lists. 
  • Always do your due diligence, no matter how legit you believe your source is. 
  • A healthy dose of skepticism is a must-have for successful investors.

If it looks too good to be true, it probably is.

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