Is Madoff the greatest conman of all time?

[bettilimbroke999]

I think so. He took a simple fukin Ponzi scheme thats as old as dirt and scammed 50 billion, unfukinreal, what was he sukin the investors off so they didnt ask any questions or were they just so blown away by the profits they didnt care?

Clearly some ppl profited from Madoff "investing" but their "profit" was just some of the money Madoff stole from other investors

Truly amazing this scheme a 5 yr old could come up with scammed 50 billion, must've been a ton of dishonest managers/accountants to pull this off for so long

[Boner_18]

There is undoubtedly many more people involved in this scam that have yet to be discovered and may not ever be caught. What he did was definitely just a nuanced ponzi built on his street cred. However, as for greatest conman of all time? I doubt it, anyone who gets caught is not to be included in that category.

[bettilimbroke999]

Yea but how many have tried to ripoff 50 billion, I mean had the stock market not collapsed and scared investors not wanted to withdraw all their cash how big would this scheme have gotten 100 billion+? Pretty good for a conman with a Ponzi scheme, clearly many ppl at his firm had to have some idea what was going on and were fine with it, I honestly believe had the global financial crisis not hit that he'd just be stealin more billions. Makes you wonder when the next Madoff conman will be revealed

[Bet Shooter]

I really think he thought he could trade his way out of the mess. Once the snow ball started to gain momentum then the wheels came off the bus and he was screwed. But I would bet that he thought his company was that good at trading, that he could do anything.

[RogueJuror]

There is undoubtedly many more people involved in this scam that have yet to be discovered and may not ever be caught. What he did was definitely just a nuanced ponzi built on his street cred. However, as for greatest conman of all time? I doubt it, anyone who gets caught is not to be included in that category.

bones great quote

great quotes being posted today

[curious]

I think so. He took a simple fukin Ponzi scheme thats as old as dirt and scammed 50 billion, unfukinreal, what was he sukin the investors off so they didnt ask any questions or were they just so blown away by the profits they didnt care?

Clearly some ppl profited from Madoff "investing" but their "profit" was just some of the money Madoff stole from other investors

Truly amazing this scheme a 5 yr old could come up with scammed 50 billion, must've been a ton of dishonest managers/accountants to pull this off for so long

Obama is the greatest con man of all time.

[bettilimbroke999]

I really think he thought he could trade his way out of the mess. Once the snow ball started to gain momentum then the wheels came off the bus and he was screwed. But I would bet that he thought his company was that good at trading, that he could do anything.

Could be, they say he paid out clockwork returns of 15% which is fukin unreal, not sure how he could've thought his firm could consistently produce those returns but possible. I think he just thought he could be getting new investors up until he died (hes pretty old so that wasnt unreasonable) and the deceit wouldnt be revealed until he was in the ground, in some ways its just bad luck that he got caught and bad luck for the investors b/c they would've kept getting their theft returns had he not been exposed by the financial crisis run on the bank scenario. Similar to Enron, had Enron not been exposed these ppl could've gone on believing their stock was worth a fortune and it would've continued trading based on the false information, though eventually of course it would've been discovered and prolly more ppl screwed

[Scorpion]

I wonder what his sentence would be
Probably 20+ yrs based on the Federal Sentencing Guidelines

[Outlawdino]

The Federal Reserve is the biggest con of all time.

[bettilimbroke999]

I wonder what his sentence would be
Probably 20+ yrs based on the Federal Sentencing Guidelines

Hes about to turn 71 so pretty much any lengthy sentence will prolly be a life sentence, very unlikely for the court to be lenient on this guy especially given the size of the scam and the effect on investors including suicides

[wtf]

i dont think there was that many people involved

this arm of his operation was strictly under his control and he issued invoices

his kids were part of a seperate portion of his biz

[Igetp2s]

FDR is a much, much bigger con man than Madoff. His pyramid scheme has been running for 60 years, and will soon bankrupt the entire country once baby boomers retire.