Discussion on Financial Losses and Madoff

We know Oliver Tree died, but have you fucking seen this video?

You're this anonymous person, dude? I'm- this is a trip.

And I don't know if this is crazy, but-

What did you hear?

Seventeen million in one month?

Are you laughing? Is it more than that? Oh, shit.

Bro, that's literally-

That's what we do in a week off the merch drops.

Whoa.

Whoa.

S- whoa.

Seventeen milli a week is what you're making?

No, that was at my peak, bro.

Oh, oh, oh, oh.

That was at my peak.

But where did all the cash go?

I don't...

re- really want to talk about it.

That's fine, man.

We did a thing.

Are you familiar with...

Bernie Madoff?

No.

So, he's a financial advisor.

What's his name?

Bernie...

Yeah.

Madoff.

Bernie Madoff.

Look him up.

Okay.

It's a pretty famous story.

Bring him a picture for the audience, Joe, if you can, so we can see who it is.

Bernie Madoff.

So I started working with this through my aunt.

She lives in Florida.

Okay.

And she connected me to Madoff.

Right.

And so, he was doing all my financial advising.

And...

There was a brief stint where...

Oh, no.

I don't like where this is going.

Basically, I just...

During the...

My pinnacle...

We were making close...

You know...

Seventy-two...

Million.

Seventy-two million what?

A month.

A month!

Wow.

Seventy-two million dollars a month you were making.

Whistle.

No, what is the math then?

How much is that?

It's eight hundred sixty-four million a year.

Eight hundred sixty-four million a year.

You're making...

Seventy-two million a month.

Mm-hmm.

Eight hundred and sixty-four million for the year.

Damn.

Yeah.

Can you just talk...

I don't really want to talk about what happened with Madoff, but I'm getting...

That's fine.

I'm getting a little worked up here.

But if you want to just share a little bit about what happened with that situation.

I think he went to prison.

He went to jail.

Yeah.

For what?

Uh, for...

Don't tell me some weirdo shit.

What did he do?

I think just embezzlement or something.

Financial embezzlement?

Oh, so you...

Oh no, a big Ponzi scheme, I guess.

Oh my God, dude.

So would you think...

It was all gone.

You lost all your fortune to him?

Everything, yeah.

How much did he say?

He was using my money to pay off other people.

You know what they say?

They say Robin Peter to pay Paul.

Mm.

That's the old phrase.

That was the whole fucking scheme.

Robin Peter...

It looked like that they're making their money back.

But there was some of the bigger fishers such as myself and some of my associates.

And...

So because of Mr. Madoff, you lost $800 million?

It says here his Ponzi scheme involved a total fraud of nearly $65 billion.

Yeah.

And the largest from a single anonymous person around $864 million.

You're this anonymous person, dude?

I'm...

This is a trip.

I never knew that.

I don't know.

Can we just talk about this?

Yeah.

No, we can move on.

I'm sorry about that.