aaron staton played bernie madoff in the wizard of lies.
who plays bernie madoff in the wizard of lies?
aaron staton
bullet::::- madoff is played by robert de niro in the may 2017 hbo film "the wizard of lies", based on the best-selling book by diana b. henriques. michelle pfeiffer plays ruth madoff in the film, which was released on may 20, 2017.





















































bullet::::- "madoff", a miniseries by abc starring richard dreyfuss and blythe danner as bernard and ruth madoff, aired on february 3 and 4, 2016.





















































bullet::::- "ponzi super nova", an episode of the podcast radiolab released february 10, 2017, in which madoff is interviewed over prison phone.
bernie madoff
the second case of concerns about madoff's operation was raised in may 2000, when markopolos, a financial analyst and portfolio manager at boston options trader rampart investment management, alerted the sec about his suspicions. a year earlier, rampart had learned that access international advisors, one of its trading partners, had significant investments with madoff. markopolos' bosses at rampart asked him to design a product that could replicate madoff's returns. however, markopolos concluded that madoff's numbers didn't add up. after four hours of trying and failing to replicate madoff's returns, markopolos concluded madoff was a fraud. he told the sec that based on his analysis of madoff's returns, it was mathematically impossible for madoff to deliver them using the strategies he claimed to use. in his view, there were only two ways to explain the figures—either madoff was front running his order flow, or his wealth management business was a massive ponzi scheme. this submission, along with three others, passed with no substantive action from the sec. at the time of markopolos' initial submission, madoff managed assets from between $3 billion and $6 billion, which would have made his wealth management business the largest hedge fund in the world even then. the culmination of markopolos' analysis was his third submission, a detailed 17-page memo entitled "the world's largest hedge fund is a fraud." he had also approached "the wall street journal" about the existence of the ponzi scheme in 2005, but its editors decided not to pursue the story. the memo specified 30 red flags based on a little over 14 years of madoff trades. the biggest red flag was that madoff reported only seven losing months during this time, and those losses were statistically insignificant. this produced a return stream that rose steadily upward at a nearly-perfect 45-degree angle. markopolos argued that the markets were far too volatile even under the best of conditions for this to be possible. later, markopolos testified before congress that this was like a baseball player batting .966 for the season "and no one suspecting a cheat". in part, the memo concluded: "bernie madoff is running the world's largest unregistered hedge fund. he's organized this business as a 'hedge fund of funds' privately labeling their own hedge funds which bernie madoff secretly runs for them using a split-strike conversion strategy getting paid only trading commissions which are not disclosed. if this is not a regulatory dodge, i do not know what is." markopolos declared that madoff's "unsophisticated portfolio management" was either a ponzi scheme or front running (buying stock for his own account based on knowledge of his clients' orders), and concluded it was most likely a ponzi scheme. markopolos later testified to congress that to deliver 12% annual returns to the investor, madoff needed to earn 16% gross, so as to distribute a 4% fee to the feeder fund managers, who madoff needed to secure new victims, with the 4% ensuring these feeder fund managers would stay "willfully blind, and not get too intrusive".
madoff investment scandal