About
Bernard Lawrence Madoff was an American financier and criminal who orchestrated the largest Ponzi scheme in history. His fraudulent scheme, estimated at $65 billion, defrauded thousands of investors. Madoff was once the chairman of the Nasdaq stock exchange, adding a layer of deception to his crimes. His firm operated with two divisions: a stock brokerage and an asset management business, with the Ponzi scheme centered in the latter.
Career Timeline
Starts Investment Firm
Founds Bernard L. Madoff Investment Securities LLC.
Building Stock Market Fame
Gains recognition in the stock market for innovative trading strategies.
Chairman of the Nasdaq
Serves as the chairman of the Nasdaq stock exchange.
Ponzi Scheme Expansion
Ponzi scheme grows to massive proportions, attracting more investors.
Financial Crisis Impact
Financial crisis puts pressure on the Ponzi scheme's sustainability.
Ponzi Scheme Collapses
Scheme collapses, exposing Madoff's fraud and causing immense financial harm.
Sentenced to Prison
Sentenced to 150 years in prison for orchestrating the Ponzi scheme.
Death in Prison
Madoff dies in prison, leaving behind a legacy of financial ruin and deceit.
Infamous Legacy
Remains a symbol of financial fraud and the dangers of unchecked greed.
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Last updated: February 25, 2026