Psychology of financial crime and Scams

By Sam Vaknin Author of "Malignant Self-love: Narcissism Revisited"

In December 2008, Bernard Madoff, a pillar of the Jewish community and of Wall Street, admitted to having run a 50 billion USD Ponzi (Pyramid) scheme, the biggest scam in history. It is still debatable whether Bernard Madoff fits the profile of a classic scammer. AntiSemites blame his ancestry, the society and culture he grew in: To understand his psychology, you may wish to start by reading this short story I have written. It tackles in minute detail the psychodynamic processes in a con-man's mind as well as the curious bond that inevitably forms between perpetrator and victim Madoff is, in all likelihood, a psychopathic narcissist: For a more detailed view of pathological narcissism and the Narcissistic Personality Disorder (NPD) - click on these links: NPD (Narcissistic Personality Disorder) and AsPD (Antisocial Personality Disorder, Psychopathy, or Sociopathy) Is Madoff malicious? He feels immune to the consequences of his actions and reinterprets his crimes to fit an egosyntonic narrative: The Narcissist and Psychopath as Criminals The Narcissist is Above the Law The Narcissist as Liar and Con-man Does the Narcissist Have a Multiple Personality (Dissociative Identity Disorder)? Grandiosity, Fantasies, and Narcissism He feels no remorse He blames his victims (or the Universe) for the mess (he has alloplastic defenses) He loves the attention You can download my book about financial crime here:

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