![]() ![]() ![]() Madoff founded a penny stock brokerage in 1960, which eventually grew into Bernard L. Madoff's firm had two basic units: a stock brokerage and an asset management business the Ponzi scheme was centered in the asset management business. He was at one time chairman of the Nasdaq stock exchange. Bernard Lawrence Madoff ( / ˈ m eɪ d ɔː f/ MAY-dawf April 29, 1938 – April 14, 2021) was an American financial criminal and financier who was the admitted mastermind of the largest known Ponzi scheme in history, worth an estimated $65 billion.
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