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Madoff was an evil master of financial illusion. And a genius


Madoff was an evil master of financial illusion
By Larry Edelman Globe Columnist,Updated April 14, 2021, 2 hours ago
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“Assume fraud first until genius is proven.”
That’s what Harry Markopolos, the Boston accounting sleuth who rang alarm bells about Bernie Madoff long before the New York investor’s Ponzi scheme collapsed in 2008, wrote when he signed a copy of his book about the scandal for his friend Michael Trotsky.
It was 2010, and Trotsky, who had recently taken over as head of the state’s giant public employee pension fund, understood Markopolos’s adage all too well: When a money manager’s acumen seems to good too be true — Madoff claimed improbably consistent investment returns year after year after year — it’s probably a scam.

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