Back in the late 1990s, I wrote some articles about how technology was changing the trading in stocks. One person I quoted was Bernie Madoff. He certainly came across as super smart, and he had a good sense of humor.

Of course, little did I know that he was really cooking up the huge Bernie Madoff scandal.

This week is actually the five year anniversary of when the ponzi scheme Madoff ran blew up. For the most part, the onset of the financial crisis exposed the Bernie Madoff scandal, which resulted in $17 billion in losses that impacted over 12,000 people. For his actions, Bernie Madoff received a 150-year prison sentence.

Let’s take a look at a few interesting nuggets most folks don’t know about the Bernie Madoff scandal.

The Career of Bernie Madoff

The Bernie Madoff scandal is perplexing because Madoff had built a legitimate securities firm, which he started in 1960. One thing you don’t hear in most Madoff news is the fact that he got the initial capital from his earnings as a lifeguard and sprinkler installer as well as a loan from his father-in-law.

To compete against the established firms like Goldman Sachs (GS), Morgan Stanley (MS) or BofA Merrill Lynch (BAC), Bernie Madoff became a top player in the OTC markets. And to do so, he was an innovator with new trading technologies, which would all become part of the NASDAQ.

Heck, if not for the Bernie Madoff scandal, the man would have likely gone down in Wall Street history as one of the great ones — and probably would have still accumulated millions in wealth (legally!).

The Bernie Madoff Scandal Itself

When the Bernie Madoff scandal hit the headlines, the belief was that no one else was involved. This has turned out to be false. There were countless key players who perpetuated the massive fraud of the ponzi scheme Madoff ran.

Keep in mind that the Bernie Madoff scandal has already resulted seven prison sentences, include Bernie’s brother, Peter Madoff. There is also currently a criminal trial involving five more alleged participants.

According to the star witness in the case, it appears that extensive manipulation and falsification/shredding of documents, backdating of trades and erroneous accounting were all a part of the Bernie Madoff scandal.

The Final Days of the Ponzi Scheme Madoff Ran

In the current Bernie Madoff scandal criminal trial, the former chief financial officer of Bernard L. Madoff Investment Securities, Frank DiPascali, described the final days. He noted that Bernie Madoff was scrambling to raise more money — and coming up with even more schemes.

Apparently, though, it looks like he realized that there was really no hope. And his main concern was not to be arrested at the office, in front of his employees.

Instead, on Dec. 11, 2008, the FBI came to his Manhattan penthouse and put the cuffs on him. The Bernie Madoff scandal was finally over, after several decades. Frank DiPascali wrote in his diary simply: “Madoff Implodes.”

Andrew Madoff, Ruth Madoff and the Rest of the Family

Bernie’s sons, Mark Madoff and Andrew Madoff, were the ones who turned their father in to authorities. They claimed they knew nothing about the Bernie Madoff scandal, which appears to be true (a recent judge ruled that Andrew Madoff was not complicit).

In 2012, though, Mark Madoff hanged himself. As for Andrew Madoff, he is suffering stage-four cancer and recently got a lymphocyte infusion, which came after six rounds of chemo and then radiation treatment. He is only 47 years old. He also says that he’ll never forgive his father.

And what about Madoff’s wife, Ruth Madoff? She no longer has any contact with Bernie. They had been married over 50 years.

Bernie Madoff Scandal Burned Well-Known Investors 

Many of the investors in the Bernie Madoff scandal were sophisticated funds, wealthy business people and even celebrities. For example, Kevin Bacon and Kyra Sedgwick lost millions. But they did not show any bitterness because — unlike many other investors who were retired — they could still work and earn money to make up for the losses that the ponzi scheme Madoff ran caused.

Then there was Fred Wilpon, the owner of the New York Mets. He was also caught up in the Bernie Madoff scandal and resolved the matter by paying a $162 million settlement to the the trustee handling the liquidation.

While expensive, it probably allowed him to keep the ownership of the team.

Tom Taulli runs the InvestorPlace blog IPO Playbook. He is also the author of High-Profit IPO Strategies, All About Commodities and All About Short Selling. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.