The bonfire of the vanity: revisiting Bernie Madoff

He ran the biggest Ponzi scheme in history — and died earlier this month just 12 years into a 150-year prison sentence. Harry Shukman revisits the wizard of lies.

Words by: Harry Shukman

8 things you need to know about Vy Capital, the secretive VC behind Elon Musk

Members - 20 September 2026

Meet Peter Dubens, the billionaire betting on Britain finally winning the America’s Cup

Members - 11 September 2026

8 things you need to know about Chris Rokos, the UK’s third-largest taxpayer

The bonfire of the vanity: revisiting Bernie Madoff

He ran the biggest Ponzi scheme in history — and died earlier this month just 12 years into a 150-year prison sentence. Harry Shukman revisits the wizard of lies.

Words by: Harry Shukman

It was the day after Bernie Madoff was arrested, and the phones at his Midtown Manhattan office were ringing non-stop. That morning, on December 12th 2008, it seemed like everyone who had ever put money into Bernard L. Madoff Investment Securities was now calling in desperation to liquidate their accounts. It was carnage up on the 19th floor, where sobbing investors bombarded the phones, begging for help, and sending in so many faxes that office staff had to replace the machines’ ink cartridges mid-call. It got so bad that Eleanor Squillari, Madoff’s secretary, organised a rota with her assistants to do twenty minutes on the phones so that in between shifts she would have time to dash to the bathroom and vomit from stress.

8 things you need to know about Vy Capital, the secretive VC behind Elon Musk

Members - 20 September 2026

Meet Peter Dubens, the billionaire betting on Britain finally winning the America’s Cup

Members - 11 September 2026

8 things you need to know about Chris Rokos, the UK’s third-largest taxpayer

Become a Subscriber

Discover the perks of being a member

	Clubhouse Membership
Two Magazines per yearDelivered to your door
Full Access to Paywall contentAccess to all member-only online features
Membership Cardto redeem all the perks.
Members Invites to Exclusive Eventsto private Clubhouse events
Weekly newsletter Straight to your inbox
	1 year ~~£59.99~~ £39.99 Equivalent to £3.33/month

For more information please email subscriptions@thegentlemansjournal.com

Current Issue

Issue NO. 51 Winter Issue 26

Become a Subscriber

Discover the perks of being a member

	Clubhouse Membership
Two Magazines per yearDelivered to your door
Full Access to Paywall contentAccess to all member-only online features
Membership Cardto redeem all the perks.
Members Invites to Exclusive Eventsto private Clubhouse events
Weekly newsletter Straight to your inbox
	1 year ~~£59.99~~ £39.99 Equivalent to £3.33/month

For more information please email subscriptions@thegentlemansjournal.com

Current Issue

Issue NO. 51 Winter Issue 26

The bonfire of the vanity: revisiting Bernie Madoff

Further reading

8 things you need to know about Vy Capital, the secretive VC behind Elon Musk

Meet Peter Dubens, the billionaire betting on Britain finally winning the America’s Cup

8 things you need to know about Chris Rokos, the UK’s third-largest taxpayer

The bonfire of the vanity: revisiting Bernie Madoff

Further reading

8 things you need to know about Vy Capital, the secretive VC behind Elon Musk

Meet Peter Dubens, the billionaire betting on Britain finally winning the America’s Cup

8 things you need to know about Chris Rokos, the UK’s third-largest taxpayer

The bonfire of the vanity: revisiting Bernie Madoff

Further reading

8 things you need to know about Vy Capital, the secretive VC behind Elon Musk

Meet Peter Dubens, the billionaire betting on Britain finally winning the America’s Cup

8 things you need to know about Chris Rokos, the UK’s third-largest taxpayer

Become a Subscriber

Become a Subscriber