60 Minutes Archive: The man who figured out Madoff’s Ponzi scheme

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In 2009, 60 Minutes interviewed Madoff Ponzi scheme whistleblower Harry Markopolos, who said he alerted the Securities and Exchange Commission of Madoff’s fraud starting in 2000.

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38 COMMENTS

  1. Bernie's niece was DATING AND LATER MARRIED one of the people from the SEC WHILE he was investigating Bernie. I don't understand how this barely gets mentioned. I know he doesn't work there NOW but he DID when they were investigating him–one of the many investigations that "didn't find anything" (because they never actually looked for anything.)

  2. I feel bad for those that lost everything but didn’t they think it was odd that they were making such great money with Madoff when others going the more traditional route of investing didn’t? To me, I’m sorry to say but their greed got the best of them and for that they paid a hefty price.

  3. Prime example why many European governmental bodies have stopped looking to US ones for stuff. Back in the day, at least of my nation it seemed, US governmental bodies were the gold standard in how to get things done. Hollowed out via deregulation and other hand binding efforts by lobbyist and today they are so gimped other nations do not even pretend.

  4. I feel sorry for them, but cmon over half these managers can’t beat the market and they charge a ridiculous fee to underperform. That right there should be fraud. They claim oh I can help when the markets down and I can squeeze out better returns when it’s up. In the end 98% would be better just buying index funds. Give your money to a great CPA to help with tax suggestions, and save your money in fees on the advisor. Heck hire a by the hour advisor once every year, like seriously good investing doesnt need hands on much maybe once or twice a year, yet these people pay 1-2% of their portfolio value which cost hundreds to millions. And one huge thing people over look is. That 1-2% is not only eating at your returns during accumulation but it’s eating at them in retirement when the market is down!! Now when you’re in retirement and the market drops by 20…your portfolio dropped by 21.5 because your advisor takes his share.Now the longevity of your portfolio is at risk.

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