The Wizard of Lies | |
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Based on | The Wizard of Lies: Bernie Madoff and the Death of Trust by Diana B. Henriques |
Written by | |
Directed by | Barry Levinson |
Starring | |
Music by |
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Country of origin | United States |
Original language | English |
Production | |
Producer | Joseph E. Iberti |
Cinematography | Eigil Bryld |
Editor | Ron Patane |
Running time | 132 minutes |
Production company | HBO Films |
Original release | |
Network | HBO |
Release | May 20, 2017 |
The Wizard of Lies is a 2017 American television biopic film directed by Barry Levinson and written by Sam Levinson, Sam Baum, and John Burnham Schwartz, [1] based on the 2011 non-fiction book of the same name by Diana B. Henriques. The film stars Robert De Niro as businessman and fraudster Bernie Madoff, Michelle Pfeiffer as his wife Ruth Madoff, and Alessandro Nivola as their older son Mark Madoff. It aired on HBO on May 20, 2017. This is the fourth film featuring De Niro and Pfeiffer, following Stardust (2007), New Year's Eve (2011) and The Family (2013), as well as their first collaboration for television.
Bernard Madoff founded his company on Wall Street in the early 1960s, which, over time, turned into one of the largest investment funds. Madoff had enjoyed a reputation as a successful and influential financier, broker, financial consultant, and generous philanthropist. He employs his sons, Mark and Andrew, and his wife, Ruth. In 2008, it became known that, over the past 16 years, his firm had run the largest Ponzi scheme in history. The resulting scandal lead to multibillion-dollar losses and the arrest of Madoff, who was later sentenced to 150 years in prison.
Lawyer Martin London, Mark Madoff's father-in-law, advises Bernie Madoff's sons to turn their father in to the authorities.
Bernie Madoff admits to FBI agents that he had been operating a Ponzi scheme since the 1970s. In 2009, Harry Markopolos testified before the US House that he believed the Madoff's company was a fraudulent Ponzi scheme because the company's gains never fluctuated up and down.
In 2005, Madoff does not want to give investigators his Depository Trust Company (DTC) account number but complies with their request in an unsuspecting manner. Madoff explains that all the SEC had to do was to make a call to DTC to verify the supposed assets of his advisory business and they would have realised right there and then that there were in fact no assets held in the firm's DTC account and the entire operation was a fraud. No phone call from the SEC to DTC was made.
By the start of the 2008 Great Recession in the United States, numerous clients start pouring into Madoff's firm to withdraw their money. Madoff does not have the money to return, however, and realizes that his fraud will inevitably be exposed. He tells his wife and sons about the Ponzi scheme, and his sons are left with no choice but to turn him in. Madoff and his wife attempt suicide by taking Ambien, but fail to take a lethal dose.
Clawback suits are filed against Madoff's sons. Mark Madoff commits suicide, while Andrew dies of cancer. Before the latter's death, he says, "My father is dead to me." Ruth tells Madoff that she will no longer visit him and will no longer take his calls from prison. She wants a relationship with her son and blames him for Mark's death. While talking with a journalist in prison, Madoff refuses to take responsibility for ruining his victims' lives, even blaming them for "letting" him take advantage of them. He then asks, "Do you think I'm a sociopath?"
On August 27, 2015 Michelle Pfeiffer and Alessandro Nivola joined the film to play wife Ruth Madoff and older son Mark Madoff, respectively. [1] On September 9, 2015 Hank Azaria joined the film as Frank DiPascali. [2] On September 10, 2015 Nathan Darrow, Kristen Connolly, Kathrine Narducci, and Steve Coulter were cast as Andrew Madoff, Stephanie Madoff, Eleanor Squillari, and Martin London, respectively. Diana B. Henriques was also cast as herself. [3] On 11 September 2015, Lily Rabe was cast as Catherine Hooper. [4]
Principal photography on the film began on August 31, 2015, in New York City. [5]
John Burnham Schwartz, Sam Baum and Sam Levinson were credited as the film's writers. [6] Diana Henriques’s The Wizard of Lies: Bernie Madoff and The Death of Trust, and Laurie Sandell’s Truth and Consequences: Life Inside the Madoff Family were credited as additional source material.
On Rotten Tomatoes, the film has a rating of 73%, based on 52 reviews, with a weighted average rating of 6.5/10. The site's critical consensus reads, "The Wizard of Lies doesn't really shed much new light on its fact-based story, but thanks to solid direction and a talented cast, it still proves consistently watchable." [7] On Metacritic, the film has a score of 67 out of 100, based on 26 critics, indicating "favorable reviews". [8] The film has a three-star rating on the Roger Ebert website, with the reviewer praising De Niro's performance.
The film's premiere drew 1.5 million viewers, making it HBO's largest premiere viewership for an HBO film in four years; additional replays and viewings through the network's streaming service brought the film's total viewers to 2.4 million for its premiere weekend. [9]
The Wizard of Lies (Music from the HBO Film) | |
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Soundtrack album by | |
Released | May 19, 2017 |
Length | 38:18 |
Label | Lakeshore Records |
The Wizard of Lies (Music from the HBO Film) was released digitally May 19, 2017, the day before the film's premiere. [21]
No. | Title | Writer(s) | Length |
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1. | "The Wizard of Lies" | Evgueni Galperine and Sacha Galperine | 1:56 |
2. | "A New Start" | Evgueni Galperine and Sacha Galperine | 0:58 |
3. | "Ponzi Scheme" | Evgueni Galperine and Sacha Galperine | 1:55 |
4. | "It's Not Enough" | Evgueni Galperine and Sacha Galperine | 2:06 |
5. | "Nightmare" | Evgueni Galperine and Sacha Galperine | 1:50 |
6. | "FBI" | Evgueni Galperine and Sacha Galperine | 2:29 |
7. | "150 Years" | Evgueni Galperine and Sacha Galperine | 3:14 |
8. | "The Club Colette Jam / Big Noise from Winnetka Medley" | The Club Collette Band | 7:18 |
9. | "Doubts" | Evgueni Galperine and Sacha Galperine | 1:04 |
10. | "Ruth Call" | Evgueni Galperine and Sacha Galperine | 2:40 |
11. | "I Revered Him" | Evgueni Galperine and Sacha Galperine | 2:31 |
12. | "I Have to Talk to You All" | Evgueni Galperine and Sacha Galperine | 1:45 |
13. | "Losing It" | Evgueni Galperine and Sacha Galperine | 2:08 |
14. | "The Pills" | Evgueni Galperine and Sacha Galperine | 0:43 |
15. | "The Boys Wouldn't Sign" | Evgueni Galperine and Sacha Galperine | 1:41 |
16. | "Make It Right" | Evgueni Galperine and Sacha Galperine | 1:14 |
17. | "My Father Is Dead to Me" | Evgueni Galperine and Sacha Galperine | 2:46 |
Michelle Marie Pfeiffer is an American actress. One of Hollywood's most bankable stars during the 1980s and 1990s, her performances have earned her numerous accolades including a Golden Globe Award and a British Academy Film Award, as well as nominations for three Academy Awards and a Primetime Emmy Award.
Alessandro Antine Nivola is an American actor. He has been nominated for a Tony Award and an Independent Spirit Award and has won a Screen Actors Guild Award, a British Independent Film Award (BIFA), and the Best Actor Award at the 2017 Tribeca Film Festival among others.
Kathrine Narducci is an American actress, known for her role as Charmaine Bucco, Artie Bucco's wife, on the HBO crime drama series The Sopranos (1999–2007). Her film credits include A Bronx Tale (1993), Chicago Overcoat (2009), Jersey Boys (2014), Bad Education (2019), The Irishman (2019), and Capone (2020).
John Burnham Schwartz is an American novelist and screenwriter. Schwartz is best known for his novels Reservation Road (1998) and The Commoner (2008). His fifth novel, Northwest Corner, a sequel to Reservation Road, was published in 2011. He is an editor at large at Penguin Random House.
Samuel Levinson is an American filmmaker and actor. He is the son of Academy Award-winning director Barry Levinson. In 2010, he received his first writing credit as a co-writer for the action comedy film Operation: Endgame. The following year, he made his directorial film debut with Another Happy Day (2011), which premiered at Sundance Film Festival. He then received a writing credit on his father's HBO television film The Wizard of Lies (2017). He continued writing and directing for the feature films Assassination Nation (2018) and Malcolm & Marie (2021).
Bernard Lawrence Madoff was an American financial criminal and financier who was the admitted mastermind of the largest known Ponzi scheme in history, worth an estimated $65 billion. He was at one time chairman of the Nasdaq stock exchange. Madoff's firm had two basic units: a stock brokerage and an asset management business; the Ponzi scheme was centered in the asset management business.
Andrew Madoff was an American financier, best known for exposing alongside his brother the financial crimes of his father, Bernie Madoff, whose Ponzi scheme has been widely described as the most successful in history.
Mark David Madoff was an American financier who alongside his brother exposed the multi-billion dollar Ponzi scheme committed by his father, Bernie Madoff.
Ruth Madoff is an American former bookkeeper and the widow of Bernie Madoff, the convicted American financial fraudster who served a prison sentence for a criminal financial scheme until his death in April 2021. After her husband's arrest for his fraud, she and her husband attempted suicide in 2008. While she had $70 million in assets in her name, after her husband was imprisoned she was stripped of all of her money other than $1–2 million by the government, and by the trustee for her husband's firm, Irving Picard.
Frank DiPascali Jr. was an American fraudster and financier who was a key lieutenant of Bernie Madoff for three decades. He referred to himself as the company's "director of options trading" and as "chief financial officer". For a number of years, he played a key part in the daily operation of the Madoff investment scandal, later recounting how he helped manipulate billions of dollars in account statements so clients would believe that they were creating wealth for them.
The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. In December of that year, Bernie Madoff, the former Nasdaq chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate multi-billion-dollar Ponzi scheme.
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Stanley Chais was an American investment advisor, money manager, and philanthropist. He operated "feeder funds" which collected money for funds related to the Madoff investment scandal. The widow, family, and estate of Chais settled with Madoff trustee Irving Picard in 2016 for $277 million.
Diana Blackmon Henriques is an American financial journalist and author working in New York City. Since 1989, she has been a reporter on the staff of The New York Times working on staff until December 2011 and under contract as a contributing writer thereafter.
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The Wizard of Lies was written by John Burnham Schwartz, Sam Baum and Sam Levinson, based on Diana Henriques' book, with Laurie Sandell's Truth and Consequences also used as additional source material.