Movie Review: Chasing Madoff (2011)

"Chasing Madoff" is a documentary about Madoff whistle blower Harry Markopolos' almost decade long attempt to expose Madoff's ponzi scheme.  Markopolos, along with two coworkers, investigated Madoff's too good to be true returns and then began digging for more information after the numbers just couldn't be plausible.  The trio, fronted by Markopolos, turned over their evidence to the SEC and later the press only to be ignored.  Their continued efforts in the end were not what brought down Madoff, rather Markopolos claimed it was the market that exposed the ponzi scheme. 

The film makes some interesting points about the Madoff scandal.  One is that Markopolos and his coworkers easily figured out Madoff's scheme but it's interesting that nobody else (the SEC, investors) couldn't figure this out.  Second is the indifference of the SEC and the press to Markopolos' continued claims that something was not right and presentation of evidence.  Markopolos seems to think that Madoff had people on the inside who kept the SEC and the press from exposing him.  Third is the global reach of the ponzi scheme.  Apparently Madoff had "feeders" in Europe and other countries who were constantly getting him new "clients," which was necessary for him to keep the ponzi scheme going.  These feeders have largely escaped any prosecution for their role though they were making money off bringing in new money to Madoff.

While the film has some good information, there's a lot that's lacking here as well.  A lot of the reenactments are very over the top, particularly Markopolos recounting his fear that Madoff would have him or his family killed.  This gives the film a very amateur feel.  Also the film is basically just an extended interview with Markopolos and his coworkers with a little footage of the Congressional hearing about the SEC's failure to investigate Madoff.  I got the feeling that this could've been a nice interview with the major players without the dramatics and it would've been better.

I think that this film could be of interest to those who are still curious about Madoff but overall it's not something that would be entertaining to most.  Somewhat informative but not really interesting or well-done, I give it a C-.