Bernard Madoff’s fraudulent investment firm was responsible for emotional damages that often were as painful as the financial losses. Madoff used a Ponzi scheme to cheat thousands of people out of billions of dollars. Yet, the money speaks mostly to the mechanism of the crime. And looking exclusively at the balance sheet provides little insight into the victims’ perspective. Now, a book being published this month by UB sociologist Lionel S. Lewis examines the depth and various dimensions of the crime’s aftermath to discover how the largest investment fraud in U.S. history affected its victims. More on UB Reporter here.
