Bernie Madoff plead responsible to his multi-billion-dollar Ponzi scheme and took a 150-year jail sentence to keep away from being whacked by the mob, in accordance with a brand new Netflix documentary.
Madoff, who stole almost $20billion from buyers, managed ‘a big chunk’ of money belonging to worldwide crime organizations earlier than being uncovered as a fraud after the 2008 monetary crash.
Within the upcoming Netflix documentary, ‘Madoff: The Monster of Wall Road,’ documentarian Joe Berlinger suggests Madoff went so willingly to jail to keep away from being executed by the mob for stealing their cash. The responsible plea was a ‘egocentric act to remain alive,’ in accordance with The New York Submit.
The four-part documentary about Madoff, who died in 2012 at 82, will probably be launched Wednesday.
Bernie Madoff plead responsible to his crimes to keep away from being executed by the mob, a brand new documentary claimed
The upcoming Netflix documentary, ‘Madoff: The Monster of Wall Road,’ made by documentarian Joe Berlinger, is out Wednesday
Bernie Madoff leaving the US District Courtroom in Manhattan in 2009 after pleading responsible to his Ponzi scheme
In 2009 Madoff plead responsible to his crimes as an alternative of going to trial or in search of a plea deal.
Although on the time of his plea Madoff spoke of the individuals he harm throughout his scheme, Berlinger stated Madoff felt no guilt in any respect, and solely plead responsible as an act of self-preservation.
‘Individuals really feel like one of many causes he was so prepared to instantly acknowledge his guilt, say it was all him, and go to jail wasn’t an act of braveness,’ Berlinger advised The Submit.
‘As a substitute of making an attempt to obfuscate or discover a authorized method out or to delay [ a verdict], I do suppose a part of that was self-protection to keep away from a mob hit.’
The brand new Netflix documentary consists of footage of depositions Bernie Madoff gave in jail
Throughout depositions given in jail, Madoff stated prosecutors tried to get him to strike a plea deal as an alternative of pleading responsible
Madoff stated prosecutors tried to get him to inform them who else was concerned in his scheme earlier than his plead responsible
Amongst Madoff’s victims had been Russian oligarchs, and rumors have lengthy circulated that Russian crime organizations had been additionally buyers in Bernard L. Madoff Funding Securities, LLC.
Whereas in jail he even befriended the boss of the New York Metropolis Colombo crime household boss, Carmine John Perisco Jr., who was serving time in the identical facility.
The documentary included depositions Madoff gave whereas in jail, through which he revealed the prosecution was making an attempt to cut price a plea cope with him earlier than he plead responsible.
‘The prosecutor needed me to plea cut price with them to make some form of a deal by offering data as to who else was concerned with this fraud,’ Madoff stated in deposition footage within the documentary. ‘The idea was that I could not be doing this all on my own, that there needed to be different individuals concerned.’
Bernie Madoff in 1999, 9 years earlier than his huge Ponzi scheme was uncovered
Bernie Madoff together with his spouse Ruth. Madoff died in 2012 at 82 whereas serving a 150-year jail sentence
Bernie Madoff in March, 2009, after pleading responsible to finishing up the most important Ponzi scheme in historical past
Bernie Madoff’s 2008 mug shot
Madoff ran what appeared to a be a prolifically worthwhile funding group from one flooring in a Midtown Manhattan skyscraper, whereas two flooring beneath a crew of his lackies fabricated monetary paperwork to idiot the shoppers and monetary regulators alike into considering they had been making income.
‘The seventeenth flooring [was] full of individuals plucked from highschool for essentially the most half – or individuals who wouldn’t have this type of a possibility to make this type of cash – who Bernie felt he might management and manipulate,’ Berlinger advised The Submit.
The documentary additionally zeroed in on a type of suspected accomplices, Madoff’s chief lieutenant Frank DiPascali, who started working with Madoff in 1975 and died in 2015 at 58 whereas awaiting sentencing.
‘There was one easy indisputable fact that Bernie Madoff knew, that I knew, and that different individuals knew, however we by no means advised the shoppers nor did we inform the regulators just like the SEC,’ DiPascali stated in a deposition. ‘No purchases or gross sales of securities had been truly happening of their accounts. It was all pretend, it was all fictitious.’
