Mr. Madoff's wife eventually reached an agreement with the court to give up more than $80 million in assets and keep only $2.5 million in cash assets.

The U.S. Attorney's Office for the Southern District of New York's verdict against Madoff shows that Madoff has been enjoying a life of luxury, with $138 million in assets to his name.

There are high-end penthouses on 64th Street in Manhattan, as well as plenty of properties in places like Montauc on Long Island and Paris, France, and even two yachts.

Someone once joked that if the former chairman of the Nasdaq, Madoff, was used as an investment tool, he was seen as the safest of the ugly Treasury bills.

But this so-called "safest" man made one of the biggest jokes in the world, and his suspected international fraud of $65 billion gave investors around the world the most disturbing winter.

Madoff once had an enviable family.

His eldest son, Mark Madoff, joined Madoff Sr. as a senior executive after graduating from the University of Michigan in 1986.

The second son, Andrew Madoff, also held senior positions in his company.

On the eve of the incident, Mark and Andrew reported their father's crime to the authorities, claiming that they had been deceived by their father and voluntarily disowned their father.

However, the victims of the Madoff fraud did not agree, and many believed that it was a statement that the brothers wanted to get away with the crime, because both had held senior positions in their father's company in the past.

The Madoff family received constant death threats, and Mark received repeated threatening phone calls and was unable to find a job, so he had to start a company that made software for the iPad.

But on the second anniversary of the biggest investment scam in the history of the ugly country, the eldest son, Mark, hanged himself on a dog leash in his New York apartment, ending his life at the age of 46.

On September 3, 2014, the youngest son, Andrew, died of cancer at the age of 48.

Madoff's wife, Ruth Madoff, was photographed by the media in Florida in 2012, destitute and vicissitudes.

After Madoff's arrest, Ruth had to auction off luxury yachts and four multimillion-dollar mansions in Manhattan and Long Island, as well as Palm Beach and the Cote d'Azur, in order to compensate the victims.

It's a bit miserable to say, but in a way, it's also a causal cycle.

With this precedent, Li Yaoyang will naturally not be easily fooled.

There is no pie in the sky, with an average annual net income of 15%, Lao Ba doesn't dare to promise so, why is this young man named Elgin Muller so brave?

Liang Jingru was not born yet, and no one gave him courage.

Also playing Ponzi schemes into art is another Chinese.

His grandfather was from Guangdong Province, China, who left his hometown after the outbreak of World War II and settled in Malaysia in the 60s.

After that, Liu's grandfather invested in iron ore and saved some money to start a family in the local area.

In 1952, Liu's father, Liu's father, was born.

He studied at the London School of Economics and then pursued an MBA at the University of California, Los Angeles.

After finishing his studies, Liu's father returned to Malaysia to take over his father's business, but the unfavorable thing is that the cocoa plantation he invested in in the 80s of the 20th century almost lost the family's wealth.

In the 90s, Liu's father took advantage of the Malaysian stock market to invest all the remaining money in the acquisition of shares in a garment factory.

Luckily, he got the bet right and made a fortune as a result.

After tasting the sweetness of the stock market, he continued to accumulate his wealth through company acquisitions and other means.

In the process, he inevitably came into contact with more or less gray areas, and his children were naturally exposed to these gray areas.

After making his fortune, Lie's father not only began to move around the upper class of celebrities in Malaysia, but also grew ambitious, no longer satisfied with the present, he hoped that his next generation could achieve a higher social status.

In 1981, Liu was born.

At the age of 13, he was sent to the Malaysian aristocratic school.

In 1998, at the age of 16, he was sent to Harrow School, the best private school in the UK, with a tuition fee of $20,000 a year alone.

As a result, Lau was able to associate with royalty in places like Brunei and Kuwait, and it was during this time that he also became a friend who would later play an important role in his career, Riza.

As the stepson of the former boss of Malaysia, he was also the key figure for Liu to break into the upper class of Malaysia.

Malaysia's pursuit of social status is no less than his father's, which has a lot to do with his small environment.

Don't look at his young mind, but he has a lot of courage for the future,

So instead of the depressed universities of Oxford and Cambridge, he chose the Wharton School of Business that he was more interested in.

Since then, Liu has been using parties to expand his network, and has been nicknamed the "Gatsby of Asia" by his classmates because of his extravagant spending at parties.

Although he majored in finance and was a strong learner, he only focused on socializing.

Liu's father is very supportive of his son's life model, and regularly gives him social funds.

A few years later, in 2003, Liu, who had not yet graduated, was introduced by a friend and became the first key character in the story after that, Otaiba.

Tempted by Liu's painting of the pie, Otaiba actually believed the young man's description of the great trade possibilities of Southeast Asia.

Later, through Otaiba's introduction, Liu met another young, ambitious Emirati, Kardune.

This man is not only the right-hand man of the Crown Prince of Abu Dhabi, but also manages an investment fund called the Mubadala Development Fund.

The fund was only established in 2002, despite its short history, but it is one of the sovereign wealth funds of the Emirate of Abu Dhabi and one of the main investment institutions in the UAE.

Its main purpose is to change the UAE's heavy dependence on oil and raise funds from the international market to invest in the local real estate and semiconductor sectors.

This method of operation was very appealing to Liu, and when he returned to school, he immediately registered a company in the British Virgin Islands.

After graduating in 2005, Liew returned to Malaysia and has been waiting for an opportunity.

Soon after, the opportunity quietly came.

Malaysia's sovereign wealth fund is planning a project called Iskandar Development and is currently looking for partners.

So on June 17, 2007, Liu sent an e-mail to Otaiba, detailing the plan and suggesting that the Emirate of Abu Dhabi's sovereign wealth fund invest in it.

He then used his relationship with Riza to arrange for the head of the National Treasury Company to fly to Abu Dhabi to meet with Otaiba and others.

And Liu has thus established himself as a hub among this group of people.

In July 2008, after Otaiba was appointed as the UAE's ambassador to Chou, his dealings with Liu shifted from above-ground to underground, mainly through a man named Shahr? The intermediary of Avathani.

At the same time, after Liu's staged "victory", his ambitions began to swell.

He wants to get more out of the Iskandar project, and the best way to do that is to buy two Malaysian construction companies.

And the question arises, the acquisition needs money, how does the money come from? Naturally, a loan is taken from a bank.

Liu was not very famous at that time, and in order to get a loan from the bank smoothly, he had to have a big man as a background.

A shell construction company was first registered in the British Virgin Islands under the name Abu Dhabi-Kuwait Malaysia Investment Company.

He then gave out shares to Otaiba and the young gentlemen of Kuwait and Malaysia for free, giving AmBank the illusion that the company was of an extraordinary origin.

In the end, naturally, tens of millions of dollars were loaned smoothly.

After that, he registered two shell companies in Seychelles, namely ADIA Investment Company and KIA Investment Company.

The names of these two companies are very similar to the Abu Dhabi Investment Authority and the Kuwait Investment Authority, giving people the feeling that the two are very related, in fact, it is similar to the concept of "pheasant university" that is often heard.

Then, to add insult to injury, Liu allowed the two newly registered shell companies to hold shares in the previously registered shell company, giving potential business partners the illusion that the Kuwaiti and Abu Dhabi royal families were behind them.

When the initial design of this scam was completed, Liu was only 27 years old.

While people of similar age were still anxious about the financial crisis, he was quietly sitting on a large pile of ill-gotten gains.

And that's just the beginning.

As the world's largest financial institutions turn their attention to Asia, many Western financiers are looking to expand their firms' Asian operations for more opportunities for advancement.

Tim Lesnar, who became a partner at Goldman Sachs in 2006, is a case in point.

Tim Lesnar has been in Malaysia for nearly a decade and is familiar with many local politicians, so it was natural for him to get acquainted with Liew.

The two men distrusted each other, but eventually came together because of common interests and successfully brokered a contract between Sudan and Goldman Sachs to set up a fund.

Liu's fame skyrocketed as a result, which inflated him and fueled his desire to own his own sovereign wealth fund.

The launch of the fund requires a huge amount of money, and although Liu has a small net worth, it is still difficult to afford it, what can I do?

First, he gifted his stake in the shell construction company to the Sultan of Terengganu.

Then the Sultan set up his own sovereign wealth fund, promising that he could pull Goldman Sachs' connections into it.

Liu, who thought everything would be fine, never expected that in 2009, when the fund began to raise funds, the Sultan suddenly announced that he was going to withdraw.

Is this going to "collapse in the middle way"?

Naturally not, if it is cool at this time, the "wolf of Wall Street" will still play a hammer, no, it didn't take long for the turnaround to appear.

In April 2009, he was successfully elected as the sixth boss of Malaysia, which means that Liu's speculative business has new hopes.

He served as an unofficial aide to *** in the first weeks of his tenure, and after *** announced the formation of a new Malaysian sovereign wealth fund, 1MDB,

Not only was he busy matchmaking for a meeting with the Saudi king's son Turki, but he also secured a commitment from Abu Dhabi for the fund to invest in projects in Malaysia.

1MDB, which was supposed to be used to invest in Malaysia's green energy and tourism industry, was instead used as a political financing tool.

He wants to use this fund to increase the value of Malaysia in the Middle East and attract more political donations.

Soon after, an agreement was reached with Saudi Prince Turki to inject $1 billion into 1MDB to finance Saudi Aramco's project to develop offshore oil fields in Turkmenistan.

Unbeknownst to both sides, however, were the people who worked for them, including Liu, Turki's partner Tarek al-Obaid, Saudi oil company executive Patrick Mahoni, and Liu's Wharton classmate Li Lin.

In order to profit from it, a new company called "Good Star" was registered in a hurry privately,

And used a private account in a Swiss bank to quietly transfer nearly $700 million of 1MDB fund cooperation funds.

In order to justifiably launder this ill-gotten gain, Liu transferred the money from the Swiss company "Good Star" to the lawyer's trust account through the New York law firm Sherman Sterling.

It stands to reason that with such a large amount of "black money", normal people will keep a low profile, but Liu did the opposite.

In the weeks following this astonishing illegal money transfer, Liu threw lavish parties in cities like New York and Las Vegas.

From the end of October 2009 to June 2010, Liu's party spent 85 million yuan in only 8 months!

In order to further launder these "black money", first of all, Liu asked his representative, Sherman Sterling, to buy a luxury hotel in Hollywood.

Subsequently, Liu wanted to make a film with Joey McFarlane to expand his influence, and this film was "The Wolf of Wall Street", which can also be said to be Liu's autobiographical album.

However, the inexplicable disappearance of a large amount of funds naturally aroused internal doubts within the board of directors of 1MDB, and the internal management of the fund was not standardized, resulting in the resignation of many senior talents recruited in the fund.

1MDB funds also have a fatal problem, and that is in terms of financial accounting.

Ernst & Young was the first to notice the problem, after which *** broke off its cooperation with them and replaced it with KPMG.

A Malaysian media company called The Edge has been investigating 1MDB since late 2009.

As the media constantly questioned the source of Liu's funds, he had to say that the money was the family's money.

At the same time, in order to make the lie more credible, he also needs to find a small, loosely regulated bank to enhance his persuasiveness.

At this point, a Swiss bank called BSI became the best option.

Since 2010, Lau has opened dozens of personal and corporate accounts at BSI Bank's Singapore branch and has secretly engaged in some kind of trading.

BSI wouldn't be stupid enough to not know what's going on, but because of the company's business needs, it would have to let it go.

The bank later went along with it, helping Liu design a complex fund business in the name of a mutual fund to launder money for its clients.

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Chapter 421: The Wolf of Wall Street (2) Free Read.