[apnews.com]

NEW YORK (AP) — Bernie Madoff, the financier who pleaded guilty to orchestrating the largest Ponzi scheme in history, died in a federal prison early Wednesday, a person familiar with the matter told The Associated Press.

Madoff died at the Federal Medical Center in Butner, North Carolina, apparently from natural causes, the person said. The person was not authorized to speak publicly and spoke to the AP on the condition of anonymity.

Madoff admitted swindling thousands of clients out of billions of dollars in investments over decades.

A court-appointed trustee has recovered more than $13 billion of an estimated $17.5 billion that investors put into Madoff’s business. At the time of Madoff’s arrest, fake account statements were telling clients they had holdings worth $60 billion.

For decades, Madoff enjoyed an image as a self-made financial guru whose Midas touch defied market fluctuations. A former chairman of the Nasdaq stock market, he attracted a devoted legion of investment clients — from Florida retirees to celebrities such as famed film director Steven Spielberg, actor Kevin Bacon and Hall of Fame pitcher Sandy Koufax.

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Ways to improve web conference image and sound quality. [forums.macresource.com]

Well, I guess he did his time.

#61727-054 did 12 years of 150 year sentence @ club fed.
Ripped off his victims again. Good riddance!

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39°36'17"N 75°44'43"W

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The university I attended lost 20 million dollars of investment with him. There were lots of losers.

Only tangentially related; in my experience, there are two kinds of financial advisors out there: those that are largely disinterested in you (or incompetent) once they have your money, and thus underperform the average market index fund, and those that significantly over-perform the market, that your friend/BIL/etc hooks you up with.

It’s those last ones that you really need to avoid.

alas, natural causes

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Embarassing myself on the Internet since 1978.

boo f'n hoo

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!#$@@$#!

The greed and criminality inherent in the market did not die with him.

Quote
pdq
Only tangentially related; in my experience, there are two kinds of financial advisors out there: those that are largely disinterested in you (or incompetent) once they have your money, and thus underperform the average market index fund, and those that significantly over-perform the market, that your friend/BIL/etc hooks you up with.

It’s those last ones that you really need to avoid.

So true.

My (then) next door neighbor was conned by Madoff, although he never said how much he lost. Judging by the palace he moved to next, it may have been a lot.

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Where is there dignity unless there is also honesty? - Cicero

Be kind, for everyone you meet is fighting a battle you know nothing about. —Wendy Mass

Quote
pdq
Only tangentially related; in my experience, there are two kinds of financial advisors out there: those that are largely disinterested in you (or incompetent) once they have your money, and thus underperform the average market index fund, and those that significantly over-perform the market, that your friend/BIL/etc hooks you up with.

It’s those last ones that you really need to avoid.

The second type is called a fiduciary. If you value your investment more than you value your advisor's boat payments, make sure you pick a fiduciary.

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rj
AKA
Vreemac, Moth of the Future




Edited 1 time(s). Last edit at 04/14/2021 12:14PM by rjmacs.

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cbelt3
The greed and criminality inherent in the market did not die with him.

This.

Quote
rjmacs

Quote
pdq
Only tangentially related; in my experience, there are two kinds of financial advisors out there: those that are largely disinterested in you (or incompetent) once they have your money, and thus underperform the average market index fund, and those that significantly over-perform the market, that your friend/BIL/etc hooks you up with.

It’s those last ones that you really need to avoid.

The second type is called a fiduciary. If you value your investment more than you value your advisor's boat payments, make sure you pick a fiduciary.

Naw, the second type I was talking about was a "Madoff", as in "made-off with my money".

It could have only happened to a nicer guy....
==