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[0:01] ..." did anyone could remember. His name was Bernie Madoff a fixture on Wall Street a man whose company. Provided disorder breath taking returns that people scrambled to try to become a part of but it turned"...
[0:33] ..." was a guy who among other things have high positions in other Wall Street firms and even. In the regulatory. The community to an extent when he was a NASDAQ at."...
[4:26] ..." perhaps even unrecoverable. But Brian Ross and again and with a brand new book is the Madoff chronicles what about Bernie Madoff and his wife Ruth's life style themselves it was. Wealthy but by the standards"...
[7:05] ..." over again have made off walking down. Outside of news is luxury penthouse park avenue 64 street. On the upper side of Manhattan and -- Ian as photographers sort of pushing each other. He went"...
[0:00]" It was the biggest Ponzi scheme did anyone could remember. His name was Bernie Madoff a fixture on Wall Street a man whose company. Provided disorder breath taking returns that people scrambled to try to become a part of but it turned out to be the biggest -- scam ever. And now the Madoff chronicles. A book by Brian Ross the chief investigative correspondent for ABC news reveals how we did it. And perhaps even why he did it. Bryant let's first of all the start off with. What Bernie Madoff was was thinking I mean this was a guy who among other things have high positions in other Wall Street firms and even. In the regulatory. The community to an extent when he was a NASDAQ at."
[0:42]" Jordan chairman of -- street terms very prominent -- city given credit for Britain. Computerized trading system -- to -- it revolutionized the financial industry. The men friends in high places these possible. Providence politicians watching. Picture that's what they important reasons that this definitely was. As they were afraid to push them. It was a question -- to his workers from other whistle -- that this is where."
[1:12]" a Ponzi scheme means that it's it's a simple pyramid. Arrangement where the people who were the new investors have to support the payments that are made to the people who were the early investors. Somebody had to know about this besides Bernie Madoff -- insisted that he was the only one."
[1:28]" That's -- completely. The -- face face down but he had for starters. Small coterie of people seventeenth floor. -- Coded access to certain people -- retreated month for months millions of -- this. Report shows people of getting -- money was sitting there earning 1520%. Every year area matter what the market is. Bernie has the secret to success. People struggle to get him to. Take his money they want to be invested with and he played hard to get that was what is sales approaches. -- the very end. Don't ask burning any questions if you wanna have taken money in of people gave them money didn't ask any questions. But the other way yet and that raises lots of good. And that's psychedelic."
[2:27]" His -- personal assistant was some one with whom you developed. The relationship she was able to tell you a lot including about Bernie so called black book."
[2:38]" Unity -- we have very little black book. Essential contact. Both he brought. At these -- of this story -- Years -- new work so well have a secretary had a copy if you that or she gave up a copy of that just as important if that these -- is he people. Examination that shows investors. Lose anything that threat he has been a certain people walk. Close friend and and others who may will be a part of the government says there's."
[3:15]" And I would those be for example his brother the compliance officer of Madoff investments."
[3:20]" Well distressing treated by the very badly and remained -- equity partner. Well paid very very well but he gave him -- two into -- yes he's. Testing everything. Very good because that would."
[3:39]" The two sons and emission of the ones who."
[3:41]" There was a lot of big part of the book because. For starters. On the four. They've maintained they did not know and some you have it will. But since that. Lawyers. So is not you or your mother -- yeah. So they can. Austin. Aaron their fears. -- very upset parent. -- this talk of counts. Very ugly assembly there."
[4:17]" The amount of money that vanished into thin here is in the vicinity of 6065. Billion dollars. I -- a lot of it is obviously it still missing or perhaps even unrecoverable. But Brian Ross and again and with a brand new book is the Madoff chronicles what about Bernie Madoff and his wife Ruth's life style themselves it was. Wealthy but by the standards that might have been suggested by the amount of money involved here it wasn't exactly opulent wasn't."
[4:45]" What the well it was not ostentatiously sure they they sort of tried that's kind of old money. I'm very into it very -- There -- some news discovered -- apartment. Or sensitive surveillance actually away. I was. Results so they have all of -- houses are. Have. Waterfront state I'll be. Philip -- they were living very. -- cheers and many many votes. -- big -- they spent a lot of money in the give a lot of money to quote people and then quickly -- And two he paid very very well that and boat people in the circles who work. It is in the -- statements and were likely -- and they're making three million dollars. Or hear people -- What mystery just let that aggressively with."
[5:51]" And we get back to the -- for second because it is a mission they were the ones who went to authorities and disclosed. This scheme. Did they do that to protect themselves. Because their father asked them to war was their bad blood between father and sons."
[6:05]" No they were you know beautifully immortal so. -- in part. But he confessed. Yes some pro weekly did get things in order not question as. They instead went -- lawyers oh and of the prosecutors right now and they did that very same day Soviet yet came to a rest -- export. -- back it was surprising is still. -- broke. The man is fastidious Dresser that would like that Fenton the FBI caller the on the spot. But that's the estimate is there any innocent explanation for what you describe yourself. So."
[6:54]" Name of the book is the Madoff chronicles written by ABC news chief investigative correspondent Brian Ross it is just been published. End we've all seen -- the footage shown over and over again have made off walking down. Outside of news is luxury penthouse park avenue 64 street. On the upper side of Manhattan and -- Ian as photographers sort of pushing each other. He went into that bed apartment building and stayed in their largely out of public sight. Prior to news is that trial and and that -- sentencing what was it like inside."
[7:29]" Very quiet. Let's kitchen table. This support. Resign from. -- she normally. The man according to. You know he's -- in this matter and you know in. -- of these captive. When he heard that what system different Specter had committed suicide -- also. -- And as if it was this person's weakness -- the reason to lighten up but he then. Grace Robert in."
[8:10]" You also was speaking witnesses. Learn from. An associate. Made off -- but his own indulgences. An excess -- wasn't exactly choir boy it was a."
[8:20]" Not quite a boy had the aside all and thought -- the -- these. Escort women the official and from the services. In addition that the it's very heavy users in these very much in early years in the pot and Melanie there's staff. Who the messenger. He was dispatched dispatched. The there large plot -- of Merrill four Bernie and and made. Manager etc. but four -- the dirty work. They connect for the --"
[8:57]" It's all in there the story of how Bernie Madoff did it and why he did the Madoff chronicles. Just published written by ABC news chief investigative correspondent Brian Ross."
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