10 Interesting Facts About Bernie Madoff

Who is Bernie Madoff?

Bernard Lawrence Madoff, more commonly known as “Bernie” is a well-known American-financier that executed the largest Ponzi scheme ever. He defrauded countless investors that accounted for billions over a period of about 17 years.

Despite, his claims of generating steady and large returns through the investing strategy known as “split-strike conversion”, which actually does exist, Madoff deposited his client’s funds into one bank account, where he would pay out clients that wanted a cash out. He funded these redemptions in the way of attracting “new” investors. He failed to maintain this fraud when the markets took a sharp turn in the late part of 2008. Here are 10 interesting facts about Bernie Madoff.

Facts About Bernie Madoff

1. Bernard Lawrence Madoff was born on the 29 April 1938, in Rockaways section of Queens, N.Y.

2. He went onto graduate from Far Rockaway High School. He met Ruth Alpern in high school who later became his wife.

3. When he finished high school, he went to the University of Alabama for a year before he transferred to the Hofstra University. In 1960 he graduated from Hofstra University with a degree in political science.

4. He went to Brooklyn Law School briefly, before leaving to start his company known as Madoff Investment Securities in the year 1960. He used the $5,000 he had managed to save from repairing and installing sprinkler systems and from working as a lifeguard.

5. His reputation and prominence started to grow and he went onto help pioneer electronic-trading. He also testified in front of congressional committees about financial matters, along with serving as a chairman on the board for the Nasdaq Stock Market.

6. He was also an avid golfer who belonged to several exclusive clubs.

7. His sons, Mark and Andrew were made senior employees in his company. They both turned their dad into the federal authorities in 2008, when the Ponzi scheme was made public.

8. The scheme was estimated at around $65 billion and is suggested as the largest in Wall Street history.

9. At the time of receiving charges for the fraud, he owned yachts in New York, Florida and the Mediterranean, a $7 million penthouse based in Manhattan, a villa situated on the French Riviera, a mansion based in the Hamptons, and a 56-foot boat that he named “The Bull.”

10. The 11 counts of theft, money laundering, perjury and fraud ended with Madoff being sentenced to 150-years in prison.

If you are a victim of a similar scheme, it is important that you speak with an attorney as soon as possible. Sometimes, these schemes are not only tried in a criminal court, but a civil as well.

The Top Mobsters of All Time

Being a member of the top ten mobsters of all time is the hall of fame for members of organized crime families. Many of the gangsters that made this list were considered pioneers of heir craft. Often, these criminals brought in well over 100 million dollars annually. These guys made it to the top of their profession and some of them changed the game forever.

The Top Five Mobsters of All Time

Recently, National Crime Syndicate performed a survey to uncover who the public views as the top ten mobsters of all time. 200 people voted and here are the results:

1.Lucky Luciano

Lucky Luciano claimed the number one spot on this list and deservedly so. After taking out New York mob bosses, Sal Maranzano and Joe Masseria, Lucky restructured the entire New York crime organization. He broke New York into five families, giving each family territory and putting an end to the bloodshed.

2.Carlos Gambino

Carlos Gambino might have been the most low-profile gangster of all time. Carlos ruled his family for over 20 years. During Gambino’s reign, the family was estimated over $500,000,000 a year. The mob boss never had an attempt made on his life and only served 22 months in prison over his lifetime.

3. Frank Costello

Mr.  Costello was a true mobster cinderella story. The gangster rose from the bottom of the family to the top of what is known today as the Genovese Crime Family. Frank Costello was known for his relationships with politicians and was said to run the democratic party in the 1940s. Costello’s run s the boss of the family almost came to an abrupt end, but he was ablet o talk his way out of being murdered by future boss Vito Genovese.

4. Meyer Lansky

Meyer Lansky was one brought into the mob life for his impeccable knowledge of business and finance. The Jewsih born mobster was a founding member of the national crime syndicate. Lansky became well-known for the idea of using foreign accounts to launder money. By 1970, Meyer was worth an estimated $300,000,000.

5. Tony Accardo

Tony Accardo was once the boss of the crime family that controlled all of Chicago. He was virtually untouchable, only spending one night in jail over an 80+ year career in organized crime. Accardo rose through the ranks as a hitman for Al Capone and was said to be part of the infamous Valentine’s Day Massacre.

 

Celebs Accused of Sexual Assault

We live in a changing world. The U.S. is experiencing a surge of charges against alleged sexual predators, and women are standing up against their assailants in droves. You would think those who live in the public eye would be less prone to commit these crimes, but unfortunately, the opposite seems true. Here are a few celebrities accused of sexual assault.

Kevin Spacey was recently accused of sexual assault by a list of at least fifteen men. Anthony Rapp made the first accusation, alleging that Spacey had advanced on him when he was only 14 years old. Spacey made history by becoming the first person to find a bad time to come out of the closet. He responded to the accusation by denying he had any memory of the incident, then elaborated on his interest in men. Matters have only grown worse for Spacey ever since.

Although no charges have been levied, James Franco was recently accused of sexual misconduct by actresses formerly under his direction. Many have asserted that Franco is also guilty of assault, but these are still only rumors. He has previously been accused of trying to hook up with a seventeen year old girl through Instagram and texting, although these accusations have not been verified either.

“X-Men” director Bryan Singer has been accused of rape more than once of the last few years. In 2014, Michael Egan accused Singer of drugging and raping him when he was underage in the 90s. Most recently, he was accused of rape by Cesar Sanchez-Guzman, who was only 17 at the time of the incident. So far, no charges have been filed.

Jeffrey Tambor was recently accused of making sexual advances on a transgender actor on the show “Transparent”, on which he plays the role of a transgender woman. He denies any form of predation.

Louis C.K. stands accused of sexual misconduct that may go as far back as fifteen years. According to comedians Dana Min Goodman and Julia Wolov, Louis pleasured himself in front of them after they accepted his invitation to meet them in his hotel room. He has been accused by other women as well, and has admitted that these allegations are truthful. He has expressed remorse for his actions.

Famous Miami Criminals

What do you think about when somebody mentions Miami? Do you think about a green Florida paradise? Do you think about architecture? Do you think about contemporary trends in a changing world? Or do you think about the criminal underworld? Miami is famous for a lot of things, but none are more fascinating than its evildoers. Here are just a few of the most famous!

Everyone has heard of Pablo Escobar, the Medellin Cartel kingpin. When he reigned at the top, flooding the city with drugs, Anibal Mustelier (the Ghost) was making his way up a different ladder–as a hitman. He’s known for robberies, cartel murders, and most notoriously, a number of assassinations in Colombia and Cuba. Until 2016, he was never caught. He was found in a Miami suburb after another string of robberies.

Who else but Al Capone might have run his criminal enterprises from afar? He was known for running the criminal world as Scarface, and he routinely made Miami his home. He passed away in Palm Island in 1947.

Leonid Fainberg, or Tarzan,  was involved in drug and human trafficking. He delivered girls from Moscow so they could work for him, and he gave all of us the impression that strip joints are run by Russian guys who like to drink Vodka and have a bit of fun on the side. When he finally got nailed in Miami, he was subsequently deported to Israel.

Miami isn’t all about drugs and prostitution. It’s also known for a number of cults. Yahweh Ben Yahweh ran one. Authorities believe he may be responsible for around twenty deaths during the same time period. No one ever nailed him for murder, though–instead, they got him for conspiracy. He died of prostate cancer in 2007, only eleven years into an eighteen year sentence.

Eddie Lee Mosley was a serial killer and rapist, known as the “Rape Man”. Even though there was enough evidence to connect him to a large number of murders, a judge ruled him incompetent to stand trial. One of the rapes that have kept him in prison for over two decades occurred in Miami-Dade County.