Andrew Cohen was a profitable trader at Bernard Madoff’s firm throughout the 1990s. Shortly before Cohen left the firm—and the financial sector altogether—he was given the opportunity to invest with Madoff.
“I started to hear about people getting really good returns, so I was interested in making good returns,” he said. “It was almost a reward to be able to be allowed to invest with him.”
Now, like many others, Cohen says he lost nearly his entire net worth in Madoff’s alleged Ponzi scheme.
“One moment I was enjoying a very happy life, teaching a fitness class and a yoga class over at the gym, and suddenly I get a phone call from some friends of mine, and in one minute I find out my whole net worth is just about gone." See the accompanying video for the interview.