Bernie Madoff Bernard Madoff was a stockbroker who ran his multibillion-dollar firm as a fraudulent investment operation. According to Kalen Smith, “On March 12, 2009, Bernie Madoff pled guilty to the largest Ponzi scheme in history.” He defrauded investors out of billions of dollars. Most people were afraid they’d be excluded from society if they spoke out against Madoff, so they kept quiet about their concerns of his investments and earnings. The type of business crime that took place in the Bernie Madoff scandal was a financial fraud by manipulating earnings from investors. Madoff always dressed in a graceful, luxurious fashion to look presentable to his high-end investors. Madoff was a well-respected financier, who convinced thousands