How It Really Happened

S06E05 Bernie Madoff:The Most Hated Man in America (Part 1)

Bernie Madoff was a prominent figure on Wall Street, instrumental in the creation of Nasdaq and serving as its chairman while running a prosperous brokerage firm. However, he was also secretly managing a hedge fund that operated primarily on whispers and referrals. As word of Madoff's consistent returns spread, affluent investors clamored to have him handle their funds, leading to billions in investments from across the globe. But when the 2008 financial crisis struck and his clients began seeking withdrawals, Madoff realized he couldn't fulfill their requests. Ultimately, he revealed to his sons that he had been deceiving everyone, as his investment operation was actually the largest Ponzi scheme in history.