.
Mr. Madoff was at one point Wall Street most notorious white collar criminal. He started making money after he set up his stock brokerage business in the 60s. He was not a very social person but appeared to be an innovator to many. In the 80s he was part of the Wall Street establishment, he was then made chairman of the giant NASDAQ market- the business stock exchange in the world. .
Mr. Madoff was definitely on his was to great success and made a name for him self. At some point Bernard Madoff became motivated by greed and felt the need to keep up appearances. I think given that he was not very social in the beginning may have feed the need to gain fame, now with money, came fame and friends something which he wasn't very accustomed to. With his new found wealth and friends his greed may have gotten the best of him. His greed had hit a new low and he was now collecting billions from his clients. Mr. Madoff's victims believed they were getting steady return with very little risk. .
In reality they weren't getting any returns at all, what he was doing was giving them their own money back. Two years ago you couldn't turn on the television without seeing a report on the Bernard Madoff story. It was the story of the decade. I personally couldn't get enough of it. I felt sorry for the countless victims that fell prey to his scheme including his family. Mr. Madoff begun living the famous lifestyle using his victims money, he owned homes in Florida, Manhattan, and southern France. He belonged to the exclusive Palm Beach Country Club and he owned an 89-foot yacht he was living the life while his victims were paying with their savings. .
is conned community celebrities like Stephen Spielberg, Authors Erick Roth and Stephen Greenspin who's an expert on Gullibility; some loosing as little as $400,000 to millions of dollars. Larry King was also a victim who over the years had put in four million dollars but luckily he was able to get back his money.