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I kind of lolled at the part where you thought you where at risk of the SEC going after you. Just a reminder that Madoff ran a ponzi for more than !15 years!

I kind of lolled at the part where you thought you where at risk of the SEC going after you. Just a reminder that Madoff ran a ponzi for more than !15 years! to the tune of 20 billion USD and the only ones to go after him where his sons who turned him in to the FBI. Note: the SEC was NOT involved in going after him (they did the opposite: they looked away). The SEC is a marketing agency that exists to provide a false image of "fair markets". It's not actually a regulatory agency.

mike_d 4y ago
His sons did not "turn him in." They were complicit and eventually contacted authorities when their father revealed that the firm was completely bankrupt. While the sons were never formally charged, they were suspected of involvement. One killed himself and the other died of cancer before the investigation was wrapped up. Close to two dozen people were eventually charged, many went to jail, and JP Morgan paid $2.6 billion to settle their involvement.
- letsdothisagain 4y ago
  And that $2.6 billion is behind bars to this day. Don't do the crime if you can't do the time!
- cturner 4y ago
  His sons did turn him in - your own comment says as much. The public evidence suggests they turned him in as soon as they learnt of it. The case has not been made that the sons were complicit, they should be presumed innocence. That other people were jailed, or that they are now dead - all that is irrelevant to the sons' guilt. Neither son was even charged.
arcticbull 4y ago
Madoff was also chairman of the NASDAQ for a hot minute there heh.
- detourdog 4y ago
  I was at one meeting with him during the planning the of the NASADQ marketplace. It was the largest meeting of the whole project that I was a part of. He came in for about 10 minutes and told everyone in the room who wanted to use Sun that the video wall would run on Windows.

mike_d 4y ago

His sons did not "turn him in." They were complicit and eventually contacted authorities when their father revealed that the firm was completely bankrupt. While the sons were never formally charged, they were suspected of involvement. One killed himself and the other died of cancer before the investigation was wrapped up. Close to two dozen people were eventually charged, many went to jail, and JP Morgan paid $2.6 billion to settle their involvement.

letsdothisagain 4y ago
And that $2.6 billion is behind bars to this day. Don't do the crime if you can't do the time!
cturner 4y ago
His sons did turn him in - your own comment says as much. The public evidence suggests they turned him in as soon as they learnt of it. The case has not been made that the sons were complicit, they should be presumed innocence. That other people were jailed, or that they are now dead - all that is irrelevant to the sons' guilt. Neither son was even charged.

arcticbull 4y ago

Madoff was also chairman of the NASDAQ for a hot minute there heh.

detourdog 4y ago
I was at one meeting with him during the planning the of the NASADQ marketplace. It was the largest meeting of the whole project that I was a part of. He came in for about 10 minutes and told everyone in the room who wanted to use Sun that the video wall would run on Windows.