(Image source: New York Daily News)

BY VICTORIA CRAIG

ANCHOR BLAKE HANSON

You're watching multisource business video news analysis from Newsy. 

An ethics course in any business school seems like a good idea. But lying about an ethics course based on your life? That sounds like something Bernie Madoff would teach. Well funny enough…

“Even a 150-year prison sentence hasn’t convinced Bernie Madoff to tell the truth. The convicted fraudster’s latest whoppers include a story that he’s working with Harvard Business School on ‘building an entrepreneurial course’ that will focus on his long-forgotten accomplishments, such as his role in paving the way for electronic market-making.”

It turns out Harvard isn’t actually seeking help from Madoff… in any way. Harvard has released an official statement in response to the claim.

“The entire matter is not true. The Business School is not working with Bernard Madoff on anything.”

Madoff doesn’t exactly have a sterling reputation- he was convicted of orchestrating the biggest Ponzi scheme history. Why would he openly lie again, but this time on something that’s so easily verified, and from a jail cell no less? Fox Business’ Charlie Gasparino explains.

“Bernie Madoff is on a major PR campaign. He’s using the media to do this, to change his image, basically soften it. To make it look like he was trapped into doing this...It’s more or less, he wants the world to know that he’s still important. And he makes stuff up…He thinks he’s a smart guy. And he thinks he’s still important. And that’s part of what’s going on here. Bernie Madoff is still living in a fantasy world.”

The media aren’t buying any of Madoff’s stories. Instead, it seems they’re having fun with his most recent lie. New York Magazine blasts him in a recent article saying:

“Wow! That’s bold of Harvard! Or it would be if it was a real story…Fantastic tales are a lot more credible when told from behind a fancy desk, aren’t they?”

While it may seem crazy, this isn’t the first time Madoff let the media run wild with rumors of collaboration with college programs. The Huffington Post reminded readers of a similar lie Madoff told back in April.

“Bernie Madoff really wants to get into academia…Madoff has floated the idea of professorships before telling the FT (Financial Times) in April that both Harvard and Northwestern were interested in his expertise in ethics.”

So, if the media know Madoff’s reputation, why are so many networks and news outlets angling for an on-camera interview with him? Gasparino explains it’s the same allure that allowed his fraud to work for so long.

“He is a real charmer, he sounds like he’s very down to earth, he sounds honest, he sounds forthright, and he sounds credible. But when you scratch the surface a little bit, it’s all bologna.”
 

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Transcript by Newsy.