Finance Monthly - August 2023

Bernard Lawrence Madoff, better known as Bernie Madoff, is a name that will forever be associated with one of the most infamous financial scandals in history. The story of Bernie Madoff captivated the world with its mixture of wealth, power, deceit, and ultimately, downfall. THE STORY Early Life and Career of Bernie Madoff Bernie Madoff was born on April 29, 1938, in Queens, New York. The son of a plumber and a housewife, Madoff’s humble beginnings gave no indication of the financial empire he would later create. Growing up in a lower-middleclass neighbourhood, he attended Far Rockaway High School. Despite not being a standout student, Madoff possessed a natural affinity for numbers and developed an early interest in the stock market. This passion for finance led him to study business at Hofstra University, where he graduated in 1960 with a degree in political science. Childhood and Education Madoff’s childhood was marked by an average upbringing in a working-class neighbourhood. His parents instilled in him values of hard work and perseverance, which would later play a role in his rise to prominence in the financial world. During his high school years at Far Rockaway, Madoff showed promise as a math student and developed an early fascination with the stock market. This interest would shape his future career and ultimately lead him down a path of both unimaginable success and notorious infamy. BERNIE MADOFF Special Feature 18 Finance Monthly.

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