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Scam of the Century: Bernie Madoff & The $50 Billion Heist

About the Show

As the far-reaching, devastating scandal unfolds; CNBC delves into the mind of investment manager Bernie Madoff and explores how the ponzi scheme worked. Who were the victims in the multi-billion dollar scam?

CNBC anchors and correspondents including David Faber , Charlie Gasparino , Mary Thompson , Melissa Lee and Scott Cohn provide investigative reporting on Madoff's firm, the many warning signs, the human and financial toll, and the fallout among the Palm Beach elite and others hardest hit by the scheme.

On the day Bernie Madoff was sentenced to 150 years in prison, we hear from his lawyer Ira Lee Sorkin, the vicitms who were allowed to address him in court and finally from his wife Ruth Madoff.

Inside the Scandal

  • Bernie Madoff & The $50 Billion Heist Wednesday, 17 Dec 2008 | 4:21 PM ET
    If it sounds too good to be true, it probably is. Those words take on dramatic resonance since the public unraveling of investment manager Bernard L. Madoff’s "Ponzi scheme." Victims including charities and bold-faced names leaving some with nothing.  On June 29, 2009 Bernard Madoff was sentenced to 150 years in prison.

    If it sounds to good to be true, it probably is. Those words take on dramatic resonance since the public unraveling of investment manager Bernard L. Madoff’s alleged Ponzi scheme.

Video Excerpts

  • The Victims/Madoff Scandal  Thursday, 18 Dec 2008 | 12:00 AM ET

    Client Joyce Greenberg tells CNBC's Melissa Lee Madoff's investment statements looked believable.

  • Colorado Fires Turn Deadly  Friday, 29 Jun 2012 | 7:25 PM ET

    The Colorado Springs fire is 25 percent contained, and Peter Madoff pleaded guilty to crimes that allowed his brother Bernie to run his ponzi scheme, reports CNBC's Brian Shactman. The Weather Channel's Chris Warren also reports on historic heat across the United States.

  • Peter Madoff Appears in Court  Friday, 29 Jun 2012 | 1:11 PM ET

    CNBC's Mary Thompson reports the latest details on the arrest and guilty plea from Peter Madoff, the brother of Ponzi schemer, Bernie Madoff.

  • Peter Madoff Pleads Guilty!  Friday, 29 Jun 2012 | 12:36 PM ET

    CNBC's Mary Thompson reports the latest details on the Madoff Ponzi scheme.

  • Peter Madoff Expected to Plead Guilty  Friday, 29 Jun 2012 | 10:16 AM ET

    Peter Madoff, the younger brother of Ponzi schemer Bernie Madoff, is expected to plead guilty later today to securities fraud for his role in the Madoff Ponzi scheme, reports CNBC's Mary Thompson.

Related Links

About Scam of the Century: Bernie Madoff & The $50 Billion Heist

  • Inside what some are calling "The Ultimate Ponzi Scheme"

Contact Scam of the Century: Bernie Madoff & The $50 Billion Heist

  • Show Times

    Check the U.S. schedule for upcoming show times.

 

  • “Squawk on the Street” Co-Anchor

  • Mary Thompson is a general assignment reporter, covering a range of stories from the 2008 financial crisis to Hurricane Katrina.

  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

  • Scott Cohn develops in-depth features, special reports and documentaries for CNBC and CNBC.com.

American Greed

  • A former Army intelligence officer known as "Mr. X" stole millions through a fake veteran's charity and eluded authorities by using an array of false identities. No one figured out who he really was or where he came from until he made one misstep ...

  • When reporter Jeff Testerman visits the home of retired navy commander Bobby Thompson, he finds quarters unfit for an officer.

  • Investigators follow a trail of stolen identities with plenty of twists and turns in the case of fugitive Bobby Thompson, a self-proclaimed retired navy lieutenant commander with a background in intelligence. His fingerprints are nowhere to be found in the United States, Canada or through Interpol.