Bernard Lawrence Madoff ( MAY-dawf; April 29, 1938 – April 14, 2021) was an American fraudster and financier who ran the largest Ponzi scheme in history, worth about $64.8 billion. He was at one time chairman of the NASDAQ stock exchange. He advanced the proliferation of electronic trading platforms and the concept of payment for order flow, which has been described as a "legal kickback".
Madoff founded a penny stock brokerage in 1960, which eventually grew into Bernard L. Madoff Investment Securities. He served as the company's chairman until his arrest on December 11, 2008. That year, the firm was the 6th largest market maker in S&P 500 stocks.At the firm, he employed his brother Peter Madoff as senior managing director and chief compliance officer, Peter's daughter Shana Madoff as the firm's rules and compliance officer and attorney, and his now deceased sons Mark Madoff and Andrew Madoff. Peter was sentenced to 10 years in prison in 2012, and Mark died by suicide by hanging in 2010, exactly two years after his father's arrest. Andrew died of lymphoma on September 3, 2014.On December 10, 2008, Madoff's sons Mark and Andrew told authorities that their father had confessed to them that the asset management unit of his firm was a massive Ponzi scheme, and quoted him as saying that it was "one big lie". The following day, agents from the Federal Bureau of Investigation arrested Madoff and charged him with one count of securities fraud. The U.S. Securities and Exchange Commission (SEC) had previously conducted multiple investigations into his business practices but had not uncovered the massive fraud. On March 12, 2009, Madoff pleaded guilty to 11 federal felonies and admitted to turning his wealth management business into a massive Ponzi scheme. The Madoff investment scandal defrauded thousands of investors of billions of dollars. Madoff said that he began the Ponzi scheme in the early 1990s, but an ex-trader admitted in court to faking records for Madoff since the early 1970s. Those charged with recovering the missing money believe that the investment operation may never have been legitimate. The amount missing from client accounts was almost $65 billion, including fabricated gains. The Securities Investor Protection Corporation (SIPC) trustee estimated actual losses to investors of $18 billion, of which $14.418 billion has been recovered and returned, while the search for additional funds continues. On June 29, 2009, Madoff was sentenced to 150 years in prison, the maximum sentence allowed. On April 14, 2021, he died at the Federal Medical Center, Butner, in North Carolina, from chronic kidney disease.
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Some of their strengths
Bernie Madoff has many admirable traits.
Based on spiritual traditions from around the world, they are someone who can be described as Strong, Confident, Energetic, Intelligent, Bold, Optimistic, and Passionate.
Strong and Diligent
According to Mysticism’s Astrology tradition, Bernie Madoff is someone who is a strong, diligent, and trustworthy person who approaches life with honesty and perseverance, but who is also physical, sensual, and artistic. A person who is ambitious and motivated.
Charming and Sophisticated
Based on Daoism’s Ba-Zi or ‘Chinese Zodiac’ tradition, people who know Bernie Madoff well know them as someone who can be classy, glamorous, and worldly, like jewelry.
Independent and Organized
According to Hinduism’s Jyotisha or ‘Vedic Astrology’ tradition, many would also describe Bernie Madoff as someone who is independent, organized, inventive, and generous.
A person who is curious and a loves learning, who seems to always know what to say, who has an optimism that can overcome any difficult situation, and who seems to be able to master almost any skill.
Perceptive and Visionary
Based on the Mayan Tzolk’in or ‘Mayan Astrology’ tradition, Bernie Madoff is someone who has a natural awareness about what is going on in the surrounding environment and the world at large, and a refined vision of how to navigate it.
They are also someone who is altruistic, tolerant, and sophisticated, and who tends to be a perfectionist who is always working to try and make everything and everyone better.
Patient and Compassionate
According to Judaism’s Kabbalah tradition, Bernie Madoff tends to be someone who approaches life with grace and compassion, and who has a powerful and commanding personality. Who can be analytical, patient, and deliberate, avoiding risks and seeking out stability instead.
Some of Bernie Madoff's challenges
While Bernie Madoff has many strengths, nobody is perfect. They also have some challenging traits they need to manage.
For example, Bernie Madoff can be Impatient, Stubborn, Idle, Arrogant, Status-seeking, Domineering, and Rebellious.
Stubborn and Idle
One of Bernie Madoff's key challenges is that they are someone who can be seen as stubborn and, at times, lazy.
Domineering and Impatient
Bernie Madoff is someone who can be demanding, egotistical, and controlling, can have a lack of judgment regarding personal finances, be argumentative and stubborn, and who can have a tendency to be withdrawn and spend time in self-imposed isolation.
Materialistic and Aggressive
Finally, Bernie Madoff also can be materialistic, emotional, aggressive, stubborn, inconsistent, and be prone to big temper outbursts.
