Madoff: Operation On The 19th Floor

Moving along with the documentary, they begin to talk about the operation on the 19th floor which as known as the lipstick building. This was very interesting because no one would suspect anything from a lipstick company. That was very genius of Madoff to do. Inside the building there were 20 to 30-year-old working making millions of dollars a year. Madoff “company” was run by Madoff family members like his two sons and brother. Where the actual fraud was taking place was in the 17th floor by Frank DiPascali. DiPascali would get word to Madoff which made him important. Fraud is another key term used in Chapter 12 that this documentary uses. Madoff was getting money through false advertisement of what he was doing. After statements were printed …show more content…
Madoff did not like investors mentioning his name but Villechuet said his name to some people that he trusted. For example, he told Casey and Casey questioned Madoff work and Villechuet responded spilt strike conversion work. Casey went back and asked Harry to investigate where he learned about the Ponzi scheme. Harry Markpolo contacted the SEC where he wrote an eight-page memo. Casey then went to Michael Ocrant where he told him about Madoff and Ocrant thought it was a good story. After this Jeffrey Tucker wen to the lipstick building to talk to Madoff and Madoff showed him that he was clear. In 2005 Markpolo was determined to get to the SEC with a twelve-page memo but he was the only one complaining. Madoff found out and started prepping Markpolo they correct way to talk to the SEC. People were paid to look the other way and ignore it. Then October came and it was the worst market crash people have seen since 70 years ago but Bernie was still making money. He was smart because he stops buying from AIG and Citibank even though they were always in his basket. Madoff believed the banks were destroying he Untied