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Bernie Madoff Finally Speaks  about His Crimes

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Bernie Madoff conducted the largest Ponzi scheme in history.
Madoff’s son Andrew died from a relapse of cancer in 2014

The Ponzi scheme king Bernie Madoff finally spoke about what he did in a recent interview. He attempted to rationalize his reasons for conducting the scam worth $65 billion.

Regarding the fraud that lasted more than 16 years, the 78-year-old Madoff said calmly, “I wasn’t going to hurt anybody.”

Madoff’s son Mark, committed suicide by hanging at the age of 46, exactly two years to the date of his father’s arrest. 

Madoff scammed close to 5,000 clients out of $65 billion, which included made up gains. 

Associate professor at Harvard Business School Eugene Soltes released a clip from a phone interview he had with the jailed scam artist. Madoff told him, “It was a temporary thing and, because of the success that I’ve had and the money I’ve made for people, I sort of felt it was just.” 

Eight years ago this past Saturday, the biggest Ponzi scheme in history unraveled when Madoff confessed to his sons that his entire career was “one big lie.”

“I would speak with Bernie every Wednesday evening at 7 p.m.,” said Soltes, who penned a book, “Why They Did It.”

The Post reports, “Soltes described Madoff’s personality in a video based on the clip — first posted by BusinessInsider — as ‘cordial, friendly.’ Madoff pleaded guilty to fraud charges and was sentenced to 150 years in prison. He seems unemotional about his son’s suicide.”

Madoff told Soltes, “The reality of it is my son couldn’t stand up amongst the pressure anyhow, so he took his own life.”

In 2014, his other son, Andrew died from a cancer relapse. It was then that Madoff asked Soltes to do him a favor and read him the obituary. 

In his book, Soltes recalled, “I thought he might want me to send a copy of the obituary to him. Instead, he asked me whether I’d had the chance to look at the LIBOR rates we discussed in a prior conversation.”

By Hannah Hayes

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