Chasing Madoff (Blu-ray Review)25 Mar, 2012 By: Angelique Flores
$24.98 DVD, $29.98 Blu-ray
Wall Street could use more men like Harry Markopolos. Nearly 10 years before Bernie Madoff confessed, Markopolos blew the whistle on Madoff’s Ponzi scheme — one of the largest in history, with thousands of victims stretched all over the world and losses amounting to billions of dollars.
More infuriating than Madoff’s crimes is that the SEC for nearly a decade ignored Markopolos and numerous opportunities to stop Madoff.
This documentary, based on Markopolos’ book, No One Would Listen: A True Financial Thriller, has all the drama and disbelief of a thriller. In it, former Wall Street broker Markopolos explains step by step how he and colleagues Frank Casey and Neil Chelo and investigative journalist Michael Ocrant uncovered Madoff’s scheme and all the roadblocks they encountered trying to stop him. The film is less about Madoff’s crimes and victims and more about Harry’s determined plight to expose him, fighting the SEC all along the way.
Markopolos and fellow whistleblowers had pages worth of evidence proving Madoff’s fraud. They served up the case to the SEC on a silver platter. They offered the story to journalists, surely a Pulitzer worthy piece. They even warned some investors skeptical about Madoff.
But no one listened.
The SEC didn’t investigate properly. Publications killed the story. Some on Wall Street were afraid to speak out for fear of losing their jobs.
As years went by and Madoff seemed untouchable, Markopolos felt his life was in danger. His tireless perseverance finally paid off when the market collapsed and Madoff could no longer keep up the scheme.
Even if you don’t understand Wall Street or financial numbers, this film makes it easy to comprehend the appalling actions of Madoff, his cohorts and the SEC, as well as the heroism of Markopolos, Casey, Ocrant and Chelo.