Fraudsters justify harm by claiming earlier victims benefited

Evidence

Madoff acknowledged his wrongdoings but found relief in moral self-exonerations. He explained that he benefited others by making money for the earlier investors; only the latecomers bore costs. — Albert Bandura, Moral Disengagement, 1455

Categorization

• corroborated: 2 independent passages support this claim — Albert Bandura, Moral Disengagement: How People Do Harm…, 1455