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Its estimated Bernie Madoff stole billions over decades.
The documentary also debunks a popular misconception: that Madoff worked alone to pull off his crimes.
Heres everything else to know about Madoff and his scheme.
How Much Money Did Bernie Madoff Steal?
According to CNBC, its estimated thatMadoff stole around $65 billionsince the 1970s.
He defrauded over 40,000 people from 125 countries until December 2008, when his two sons turned him in.
How Did Bernie Madoff’s Ponzi Scheme Work?
To execute this scheme, Madoff created a reputation for being able to generate steady returns for high-value clients.
He said he would do this by using an innovative strategy he called split strike conversion.
He also claimed hed limit losses by buying contracts related to those common stocks.
But investigators said that Madoff did not actually execute any trading for his clients.
So he essentially ran a pyramid scheme and provided customers with a falsified account statement.
It worked for years until 2008 when the financial crisis caused many clients to ask for their money back.
On Dec. 10, 2008, Madoff confessed to his sons, Mark and Andrew, about the fraud.
Somehow the SEC never caught on to Madoffs schemes.
Where Is Bernie Madoff Today?
As the years went by, I realized that my arrest and this day would inevitably come.
