In this episode, we profile Bernie Madoff, the former Nasdaq chairman who masterminded the largest Ponzi scheme in history,. We examine how Madoff used his reputation as a Wall Street statesman to lure investors into a multi-billion-dollar fraud, claiming to use a "split-strike conversion" strategy that was actually nothing more than "one big lie",,.

We discuss the dramatic collapse of the scheme during the 2008 financial crisis, when Madoff confessed to his sons, Mark and Andrew, who immediately turned him in to federal authorities,. You’ll hear about the repeated failures of the SEC to heed warnings from whistleblower Harry Markopolos, and the devastating impact the scandal had on victims ranging from charities to celebrities like Kevin Bacon and Steven Spielberg,,. Finally, we look at the tragic aftermath for the Madoff family, including ...