Risk It! or Regret It! Whatever ‘It’ Is For You I Always Say. For Jim Campbell ‘IT’ was getting Bernie Madoff to talk to him and only him from prison to reveal for the first time and bizarrely the last time. MADOFF TALKS ‘Uncovering The Untold Story Behind The Most Notorious Ponzi Scheme In History” is Jim Campbell’s book he worked on for ten years. Bernie Madoff died in prison 2 weeks after Jim released the book. Jim joins me for an incredible conversation about what nobody else knew and why Madoff and Madoff family members trusted HIM with the real story.
Reminder: In June 2009 to avoid trial Bernie Madoff pleaded guilty to 11 Federal crimes for defrauding up to 16,000 investors of 4.8 billion dollars. Their original investments were worth close to 19.5 billion. Madoff was sentenced to 150 years in prison.
What motivated Bernie Madoff to launch the biggest Ponzi scheme in history? The man who basically had the Gold Seal of Approval from every major investor as well as wealthy individuals and families ?
Jim Campbell in his first book ever, got the last word on this story about the man who built great wealth for many people and destroyed the well being and lives of many people without regret. Jim will admit he will never completely knew why both the Madoff family members and Madoff himself decided to trust him to investigate and tell the story of who knew or didn’t know what was going on for years on the 17th Floor of the Lipstick Building in New York City.
You see Bernie Madoff ran an honest financial business on 19th floor of the Lipstick building that was very ethically run by top caliber people. However, on the always ‘locked’ 17th floor of the same building, only young naive and unsophisticated workers being paid tons of money they couldn’t make anywhere else were allowed. It was a total fraud from day one. None who worked on the 17th floor knew they were operating a Ponzi scheme that would become the biggest criminal enterprise in history. There’s great insight in this book as to how Bernie Madoff’s brain could operate in two complete separate worlds at the same time.
The general perception of this human and financial tragedy was also that his family HAD to know. Jim Campbell gathered information that even the FBI did not have, to PROVE that Bernie Madoff’s wife and his two sons did not know. In fact, when Bernie Madoff came clean to his sons about the Ponzi scheme they immediately turned him in to authorities and never spoke to him again. Very tragically and likely from the stress of it all, both sons passed away. One from cancer the other from suicide. Bernie Madoff’s estranged wife Ruth survives and lives quietly in CT. Jim shares their very real conversations in his book.
The personal family tragedy was also a financial tragedy that destroyed many other families and individuals who trusted Bernie with their life savings as well.
Jim shares he was flabbergasted at how totally insane it was the Ponzi scheme went on for so long. He speaks to the fact that the SEC missed this incompetence for 40 years!
PS I know Jim Campbell personally and like him very much from crossing paths often in the same WGCH Radio studio in Greenwich, CT over the years. Jim’s nationally syndicated radio show ‘Business Talk with Jim Campbell’ is known for his hard hitting interviews of leading figures from the world of business, politics and sports.
Jim’s a guy of integrity, so I happily agreed to promote his incredible book when I heard about it. Right after we locked in an interview date, the biggest coincidence in the world happened to Jim who’d just finished working on this book after 10 years! Bernie Madoff died in prison and CBS Sunday morning was interviewing him in his backyard.
As of this post Jim now has a Hollywood agent who told him Netflix is making an offer on his book. I should mention the first agent Jim got, tried and could not get anyone interested in his book. Life’s like that.
