PBS: Frontline – The Madoff Affair

The Madoff Affair unravels the story behind the world’s first truly global Ponzi scheme. Who saw the warning signs? Why were they ignored for so long? Billions of dollars were channeled to Madoff’s investment firm, and his feeders became fabulously wealthy. The competition wondered how the man could produce such steady returns in good times and bad. There were allegations that Madoff was “front-running” or operating a Ponzi scheme, which the Securities and Exchange Commission (SEC) investigated several times over the last two decades. But Madoff remained untouched until Dec. 11, 2008, when he admitted it was all “one big lie.” Through exclusive television interviews with those closest to Madoff’s operation, veteran FRONTLINE correspondent Martin Smith unearths the details of a deception that lasted longer, reached wider and cut deeper than any other business scandal in history.

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