Author(s): Peter Sander

Biography

The stranger-than-fiction story of how one well-respected money manager built a business empire over decades by means of a classic Ponzi scheme (this is a fraudulent investment strategy which pays returns to early investors with money put in later by subsequent Investors). When in late 2008 Bernard Madoff revealed the scam to his devoted investors, to his trusting colleagues, to his sons, and to the World, he admitted he had bilked wealthy individuals, charities, hedge funds, mutual funds, synagogues, colleges, and other institutions out of $50 billion. To date, this is the largest theft ever to take place on Wall Street. This revealing account shows Madoff's climb to success and explains the inner workings of his scheme - as well as its incredible aftermath. This is an instant book about the greatest theft and biggest scandal ever to hit Wall Street. It provides the inside scoop on how one powerful man stole so much money from so many sophisticated investors, ruining many. This will be the first book on the subject to hit the marketplace.