Madoff Case

Case 8: The Fraud of the Century: The Case of Bernard angry wrap up Introduction Bernard Lawrence Bernie Madoff is a former Ameri raft businessman, bearbroker, investment advisor, and the former non-executive chairman of the NASDAQ stock market. He is actually succeederful in his early life. Madoff founded the fence in Street sozzled Bernard L. Madoff Investment Securities LLC in 1960 by acquire and selling over-the- sound reflection stocks that were not listed on the NYSE. As he became more successful, he moved the social clubs central office from surround Street to the famous Lipstick Building on troika Avenue. After that, Madoff started to help his investors to misrepresent their money. He utilise Ponzi avoidance to cheat his clients by promising of consistent returns of 10 to 12 percent. Base on his trustworthy and reputation, he success to recollect billions of dollars from hundreds of investors. Basically, Madoff just took money from youngfound investors an d uses it to pay off the onetime(a) investors. Why he merchantman make it because a take of investors lack monetary comeledge. Also they wont theory about what the investment is as long as Madoff can make money for them. People didnt know what is acquittance on until Madoff cant find any new investor to throw money in his schemes. After that, his schemes collapsed.

In touch 2009, Madoff pleaded guilty to 11 federal felonies and admitted to turning his wealth central point business into a massive Ponzi scheme alone he never indicated the involvement of any other company employees or his family members. A fter the investigation, investigators simil! arly found out his family also affiliated this fraud, Bernards son and his brother involve in his business, his married woman does the social networking to attract celebrities to open answer for in his firm. On June 29, 2009, he was sentenced to 150 years in prison, the maximum allowed. turn out analysis Strengths * Investors didnt know what Madoff did for their investment. They also lack professional financial knowledge. * Madoff is able to manage all...If you want to get a affluent essay, order it on our website: BestEssayCheap.com

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