The Madoff Affair

The Madoff Affair investigates the story of Bernard Madoff, the man behind one of the largest financial frauds in history. On December 11, 2008, Madoff confessed that his investment business was “one big lie,” a Ponzi scheme that defrauded his investors of $65 billion. It chronicles Madoff’s rise from a penny stock trader to a respected figure on Wall Street, detailing how he built a lucrative side business as an investment adviser that attracted clients with impressive returns.

Through exclusive interviews with those closest to Madoff’s operation, the film uncovers the intricate details of the world’s first truly global Ponzi scheme. It reveals how Madoff’s deception was longer-lasting and wider-reaching than any other financial scandal in history. It traces Madoff’s journey from tapping into exclusive country clubs in the mid-1960s to expanding his reach into Europe and Latin America, brokering deals with powerful hedge fund managers and feeder funds.

The film also sheds light on the regulatory failures that allowed Madoff’s scheme to persist for decades. Despite multiple investigations by the Securities and Exchange Commission (SEC) and allegations of “front-running” or operating a Ponzi scheme, Madoff remained untouched until his confession in 2008. It also highlights the role of whistleblowers like Harry Markopolos, who repeatedly warned the SEC about Madoff’s suspicious investment returns and opaque strategy.