The Atlantic

No Movie Could Capture the Crazy Details of Bernie Madoff's Story

Subtlety—a key ingredient of a successful fraud scheme—doesn’t make for good drama.
Source: Kathy Willens / AP

Bernie Madoff is back, nearly a decade after his arrest for the largest known financial fraud in history. An HBO movie, The Wizard of Lies, starring Robert De Niro, premieres on Saturday, and Madoff, an earlier ABC miniseries starring Richard Dreyfuss, have catapulted the preeminent Ponzi schemer into the limelight again, even as lawsuits to recover his investors’ losses continue to grind on in the courts.

It’s fitting that Madoff is played by such skilled actors as De Niro and Dreyfuss, both of whom have won Academy Awards: Madoff, who has been serving a 150-year sentence since 2009 for bilking thousands of investors in a Ponzi scheme, was himself a gifted actor, whose special talent for lying enabled him to bamboozle the naive and sophisticated alike.

The Hollywood versions concentrate on how Madoff’s crimes impacted his family members, who were burdened by the presumption that they must have known about the fraud. One son,

You’re reading a preview, subscribe to read more.

More from The Atlantic

The Atlantic8 min readAmerican Government
The Most Consequential Recent First Lady
This article was featured in the One Story to Read Today newsletter. Sign up for it here. The most consequential first lady of modern times was Melania Trump. I know, I know. We are supposed to believe it was Hillary Clinton, with her unbaked cookies
The Atlantic3 min readCrime & Violence
Donald Trump’s ‘Fraudulent Ways’ Cost Him $355 Million
A New York judge fined Donald Trump $355 million today, finding “overwhelming evidence” that he and his lieutenants at the Trump Organization made false statements “with the intent to defraud.” Justice Arthur Engoron’s ruling in the civil fraud case
The Atlantic7 min readAmerican Government
The Americans Who Need Chaos
This is Work in Progress, a newsletter about work, technology, and how to solve some of America’s biggest problems. Sign up here. Several years ago, the political scientist Michael Bang Petersen, who is based in Denmark, wanted to understand why peop

Related Books & Audiobooks