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cover of episode 69. The Scheme (Bernie Madoff)

69. The Scheme (Bernie Madoff)

2021/8/29
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Swindled

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Samuel Israel III co-founded the Bayou Group hedge fund, which initially underperformed and faced significant losses. In response, Israel and his partners decided to falsify financial statements to attract new investors and prevent existing ones from withdrawing their funds.

Shownotes Transcript

A Wall Street tycoon's money management firm is revealed to be the world's largest Ponzi scheme. Prelude: Samuel Israel III disappears after his hedge fund collapses.

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