‘MADOFF: The Monster of Wall Street’ documents the creation of the biggest Ponzi scheme, run by Bernie Madoff for decades, in Wall Street’s history and its eventual end. The docuseries is now streaming on Netflix.
In 1961, Bernie Madoff registers Bernard L. Madoff Investment Securities and begins trading in over-the-counter stocks. At the same time, he runs a small investment advisory business without registering with the SEC as an investment advisor.
His legitimate business grows, and over time, he gains recognition as a trustworthy man. He employs his brother and his sons at his firm, giving it the image of a family-oriented business.
Madoff’s illegitimate business also grows as he promises extraordinary returns to his investors. He opens a different office and employs high-school graduates to run his illegal business.
Contrary to the promises made to the investors, no trade takes place. He runs a Ponzi scheme involving investors from around the globe.
Despite the claims and accusations of various individuals, the SEC fails to put an end to the scheme. This goes on for decades until the crime comes to light in 2008.
However, by the time the fraud is exposed, investors invested $19 billion dollars, and they think they have a profit of around $64 billion dollars with Madoff.
The docuseries explores these events along with the testimonies of Madoff’s former employees, the victims of the scheme, those who had discovered the truth years ago, and more.
The docuseries gives a detailed account of Madoff’s career. However, it does not feel stretched out; it is an engrossing account without a single dull moment.
It is made with the assumption that not all viewers might be familiar with the world of finance. While giving information, it explains everything in layman’s language to make it easy for the viewers to understand every single action.
At the same time, it refrains from overloading the viewers with information. The testimonies and explanations are carefully placed in order to construct an easy-to-understand and engaging story.
The docuseries brings forth some of the stories of the victims to make the viewers realize the impact of the crime. The focus is not entirely on the crime and the criminals, as the victims are also given space.
One of the elements that ruin this docuseries is the acting out of real-life events that result in overdramatization. This gives it an almost comical effect. At times, it feels like the creators want to make a replica of ‘The Wolf of Wall Street’.
This true crime docuseries is informative and interesting at the same time. Viewers who wish to learn how Ponzi schemes are created must give it a try. The docuseries will show the viewers every angle of the infamous crime of the “financial serial killer”.
MADOFF The Monster of Wall Street
Director: Joe Berlinger
Date Created: 2023-01-05 01:05