The Monthly Episode - March 2022 - The Criminal Episode 6
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But in reality - The money is being siphoned into Madoff's own accounts as well as paying off old investors to keep the lie afloat. Meanwhile he would show investors false reports that showed they were making money and if any of them wanted out he would pay them with money from the group account. Actually, Madoff or his firm hadn’t made a single trade since 1993 or perhaps even earlier. Furthermore, the fraud ran until the market went into a recession in 2008.
Many investigations (around six times) happened before 2008 but nobody got any hard evidence since nothing can be proved via just theories, every time investigations went closed. The Downfall In December 2008, wall street was illuminated in red; trillions of dollars were wiped out from the stock market. In rushes and panics investors were asking for their original investments back; so were Madoff’s clients. Bernie tried but nothing was enough, the withdrawals were still more than he could bring in.
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