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

  • 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

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

  • Colorado Fires Turn Deadly

    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

    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!

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

  • Peter Madoff Expected to Plead Guilty

    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.

 

  • David Faber

    “Squawk on the Street” Co-Anchor

  • Mary Thompson

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

  • Melissa Lee

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

  • Scott Cohn

    Special Correspondent, CNBC

American Greed

  • Bernard L. Madoff leaves U.S. Federal Court on Jan. 14, 2009, after a hearing regarding his bail in New York.

    Part three of CNBC's three part original podcast series. It’s one of the greatest lies ever sold, a $65 billion fraud. For the past decade, Bernie Madoff — locked away from the world as he serves a 150-year prison sentence — has been the face of greed. That’s not the end of the story. CNBC special correspondent Scott Cohn and American Greed executive producer Chuck Schaeffer go “behind bars” to uncover the Madoff of today, from the lawyers and investigators to the victims. In our final episode: hunting Bernie’s billions. With his victim’s lives shattered, coping with the financial loss, trauma, and tragedy and the 10 year effort to make them whole.

  • Bernard Madoff in 2009

    A three part original podcast series. It’s one of the greatest lies ever sold, a $65 billion fraud. For the past decade, Bernie Madoff — locked away from the world as he serves a 150-year prison sentence — has been the face of greed. But that’s not the end of the story. CNBC special correspondent Scott Cohn and American Greed executive producer Chuck Schaeffer go “behind bars” to uncover the Madoff of today, from the lawyers and investigators to the victims. In this episode: the next Madoff. In the wake of his scheme came investor protections, so how is that con artists are still scamming their way to millions and can it happen to you?

  • Bernard Madoff, center, exits Federal Court after a bail hearing in New York, Jan. 5, 2009.

    A three part original podcast series. It’s one of the greatest lies ever sold, a $65 billion fraud. For the past decade, Bernie Madoff — locked away from the world as he serves a 150-year prison sentence — has been the face of greed. That’s not the end of the story. CNBC special correspondent Scott Cohn and American Greed executive producer Chuck Schaeffer go “behind bars” to uncover the Madoff of today, from the lawyers and investigators to the victims. Our first episode goes inside the mind of the world’s most notorious con man. Who is the Madoff of today? What makes him tick?