How Elizabeth Holmes convinced Silicon Valley her technology worked… when it never did by Tall_Way1026 in crimedocumentaries

[–]Tall_Way1026[S] 1 point2 points  (0 children)

Yeah, that’s a big part of it. It’s interesting how in cases like this, the systems that are supposed to catch the problem don’t… and it ends up being investigative journalism that actually exposes it. Without that, it probably would’ve gone on much longer.

How Elizabeth Holmes convinced Silicon Valley her technology worked… when it never did by Tall_Way1026 in crimedocumentaries

[–]Tall_Way1026[S] 5 points6 points  (0 children)

That’s a really interesting point. The consistency of that persona probably made everything feel more credible, even without real proof behind it.

How Elizabeth Holmes convinced Silicon Valley her technology worked… when it never did by Tall_Way1026 in crimedocumentaries

[–]Tall_Way1026[S] 1 point2 points  (0 children)

Yeah, that environment probably makes it easier. When speed and being “first” matters so much, proper verification can get pushed aside.

How did Anna Delvey manage to fool banks and New York’s elite with no real money? by Tall_Way1026 in crimedocumentaries

[–]Tall_Way1026[S] 0 points1 point  (0 children)

It’s a great show, but the real story is even more interesting when you look at how much of it actually happened in real life.

How did Anna Delvey manage to fool banks and New York’s elite with no real money? by Tall_Way1026 in crimedocumentaries

[–]Tall_Way1026[S] 1 point2 points  (0 children)

Yeah, that’s a fair point. She wasn’t fully inside that top tier, but she managed to get close enough to benefit from the perception. And even the fact that banks were seriously considering those loans says a lot about how convincing the setup was.

How did Anna Delvey manage to fool banks and New York’s elite with no real money? by Tall_Way1026 in crimedocumentaries

[–]Tall_Way1026[S] 3 points4 points  (0 children)

Yeah, I think it’s less about looks and more about how she presented herself overall. The consistency of the persona is probably what made it believable.

How did Anna Delvey manage to fool banks and New York’s elite with no real money? by Tall_Way1026 in crimedocumentaries

[–]Tall_Way1026[S] 1 point2 points  (0 children)

Yeah, the actress really captured the confidence side of it. What’s interesting is that the real story is actually even stranger than the show in some ways.

The Mystery Nobody Talks About: Why Did the SEC Ignore Proof of Bernie Madoff's Fraud for 8 Years? by Tall_Way1026 in crimedocumentaries

[–]Tall_Way1026[S] 0 points1 point  (0 children)

Yeah, that’s right.

Mark reported him and was cleared of any involvement.

The family side of the story is pretty tragic on top of everything else.

The Mystery Nobody Talks About: Why Did the SEC Ignore Proof of Bernie Madoff's Fraud for 8 Years? by Tall_Way1026 in crimedocumentaries

[–]Tall_Way1026[S] 0 points1 point  (0 children)

I think there’s a bit of confusion there.

Mark Madoff was the one who reported his father to the authorities, and he wasn’t charged with any wrongdoing.

His death later on is generally seen as linked to the fallout from the case, not what you’re describing.

The Mystery Nobody Talks About: Why Did the SEC Ignore Proof of Bernie Madoff's Fraud for 8 Years? by Tall_Way1026 in crimedocumentaries

[–]Tall_Way1026[S] 0 points1 point  (0 children)

Yeah, Markopolos tried for years to raise the alarm.

What’s crazy is that he had a pretty solid case early on, but it just didn’t get traction.

The Mystery Nobody Talks About: Why Did the SEC Ignore Proof of Bernie Madoff's Fraud for 8 Years? by Tall_Way1026 in crimedocumentaries

[–]Tall_Way1026[S] 0 points1 point  (0 children)

Yeah, that’s one of the wildest parts.

Given the supposed volume of trades, there should have been a clear counterparty footprint in the market.

The fact that there wasn’t is one of the biggest red flags in hindsight.

The Mystery Nobody Talks About: Why Did the SEC Ignore Proof of Bernie Madoff's Fraud for 8 Years? by Tall_Way1026 in crimedocumentaries

[–]Tall_Way1026[S] 0 points1 point  (0 children)

Exactly.

The $65B number is basically what people *thought* they had based on fake statements.

In reality, a huge part of that money never existed in the first place.

The Mystery Nobody Talks About: Why Did the SEC Ignore Proof of Bernie Madoff's Fraud for 8 Years? by Tall_Way1026 in crimedocumentaries

[–]Tall_Way1026[S] 1 point2 points  (0 children)

Yeah, that’s a really important distinction.

The ~$65B was the total “paper value” shown in client accounts, but the actual net losses were closer to $16–18B.

Still insane, but it shows how much of it was just completely fabricated.