Bernie Madoff

  • Bernie Madoff Case

    Bernie Madoff Fraud Case Bernie Madoff Fraud Case Introduction One of the largest fraud cases of all times is that of the “Bernard Madoff Case.” According to Armstrong (2008), “for a number of years Madoff managed to lure billions of dollars away from huge charities, as well as wealthy individuals in both the United States and Europe by getting them to invest in his hedge fund. This he did by offering extraordinary returns to investors, until his scheme eventually reached a staggering $50

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  • Secrets, Lies and Bernie Madoff

    Secrets, Lies and Bernie Madoff It seems like they all start the same – with Secrets and Lies. With secrets and all the don’t tell anyone because it is exclusive talk - that’s the stuff that makes soap operas, scandals and the greatest ponzi schemes. Everyone likes feeling like they have a great opportunity that not everyone gets to have and that it is exclusive, especially when it feeds their financial greed. Those are the ingredients that helped Bernie Madoff build the biggest

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  • Bernard Madoff Fraud

    Abstract This report allows the facts to be known concerning the still mysterious case of Bernard L. Madoff and his longtime investment securities activities, which eventually turned into an enormous fraud of incomparable size. In this report, you will begin to understand how Bernard Madoff was able to execute such an elaborate fraud. The illegal business behavior found in this case is too numerous to count however, quite a few will be identified. In addition, the roles of the perpetrators

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  • Madoff Scandal

    The Madoff Scandal: 50 billion questions and few answers Table of Contents Abstract …………………………………………………………………………………3 Description of Events …………………………………………………………………..4 Analysis of Scenario ……………………………………………………………………4 Questions about Madoff ………………………………………………………………..5 Solutions and Alternatives ……………………………………………………………..7 Conclusion ……………………………………………………………………………...8 References ………………………………………………………………………………10 Abstract Bernie Madoff ran the biggest in the history of the world. The details

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  • The Case of Bernie Madoff

    The Fraud of the Century: The Case of Bernard Madoff The fraud perpetrated by Bernard Madoff which was discovered in December, 2008 is based upon a Ponzi scheme. Madoff took money from new investors to pay earnings for existing customers. The greater the payout to retiring and withdrawing customer, the more revenue or clients he would need to start and “investment relationship” with Madoff. The Ponzi scheme was named after Charles Ponzi who in the early 20th Century, saw a way to profit from

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  • Bernard Lawrence "Bernie" Madoff

    Bernard Lawrence "Bernie" Madoff 1. Describe three types of illegal business behavior alleged against Mr. Madoff and for each type of behavior, explain how the behavior is illegal or unethical in the conduct of business. In March 2009, Madoff pleaded responsible to 11 federal crimes and confessed to turning his wealth management business into a massive Ponzi scheme that cheated thousands of investors of billions of dollars. Madoff said he started the Ponzi plan in the early 1990s. However, the

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  • Business Ethics Case: Bernard Madoff

    of Long Island, Bernard Madoff founded “Bernard L. Madoff Investment Securities,” a “trading power” house that would become one of the largest independent trading operations in the securities industry (Washington, 2012). In the year 2000 his company ranked among the top trading and securities firms in the nation. By age 70, his name had become legendary; he was considered to be one of the most “influential spokesmen” on Wall Street. But on December 11, 2008, Bernard Madoff was arrested and charged

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  • Madoff Affair

    The Bernie Madoff documentary was one of the more interesting videos I have ever seen, and I actually have seen it previously on Netflix. While the Madoff controversy was a highly public topic, this documentary helped fill in this infamous story from the start. At the start of Bernie Madoff career, he had a very successful market making business. He originally would pay large institutions for their orders, or “flow”. After initial success, he then went on to manage some investment funds. His returns

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  • Bernie Madoff Case Study

    The Fraud of the Century: The Case of Bernard Madoff The fraud perpetrated by Bernard Madoff which was discovered in December, 2008 is based upon a Ponzi scheme. Madoff took money from new investors to pay earnings for existing customers. The greater the payout to retiring and withdrawing customer, the more revenue or clients he would need to start and “investment relationship” with Madoff. The Ponzi scheme was named after Charles Ponzi who in the early 20th Century, saw a way to profit from

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  • Bernie Madoff

    Bernie Madoff: An Issue of Ethics There are many ethical issues in the world’s news today, some bigger than others, and many that get swept under the rug. One particular ethical issue is at the core of a huge story that has dominated the news for months on end and has lead to more trying times on Wall Street. The story is about Bernie Madoff and the massive effect he and his ponzi scheme had on hundreds of people who trusted him. This paper will discuss the ethical issue underlying the conflict

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  • Bernie Madoff and the Sec

    Bernie Madoff and The SEC Bernie Madoff is the face of multi-billion dollar Ponzi schemes that swindled money from investors. Madoff was a prominent member of the securities industry throughout his long career. He once served as a vice chairman of NASD, a member of its board of governors, and a chairman of its New York region. Also, he was a member of the NASDAQ Stock Market board of governors and its executive committee and served as a chairman of the trading committee. His own investment advisory

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  • Bernie Madoff Case Study

    Operated through a complex, cryptic structure Bernie Madoff, CEO of Bernie L. Madoff Investment Securities (BMIS), perpetuated the most embellished Ponzi scheme the world has ever seen. The basis of the securities fraud that took place approximately between 1991 – 2008 was influenced by Bernie Madoff’s reliance upon an unqualified staff, outdated software, organizational seclusion, a personal halo effect, and weaknesses in the regulating body. Madoff had the confidence of the public, yet to pull

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  • Bernie Madoff Case Study

    Case Study: Bernie Madoff Eric Ranzinger Organizational Behavior – OL 500 Jascia Redwine Abstract Bernie Madoff was one of the top dogs on Wall Street for over 20 years. He managed tens of billions of dollars in client’s funds. His firm was one of the most consistent with profitable returns. When most others were reporting losses during the recession, his firm was consistently reporting net gains. Many celebrities even entrusted their money with Madoff because he was such a reputable name

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  • Bernie Madoff

    Diyonka Massey Magan Calhoun AIS 3710 22 February 2013 Bernie Madoff Case Study Throughout history, people have done unethical things dealing with money. In 2008, the man known for running a massive Ponzi scheme, known as Bernie Madoff, was arrested and charged with criminal securities fraud, and sentenced for a hundred and fifty years in prison. Bernie Madoff continued his scheme for thirty years because his company was the largest market maker on NASDAQ. He had an impressive rate of returns

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  • Bernard Madoff

    MVE220  Financial  Risk     The  Madoff  Fraud     Shahin  Zarrabi  –  9111194354   Lennart  Lundberg  –  9106102115               Abstract:   A  short  explanation  of  the  Ponzi  scheme  carried  out  by   Bernard  Madoff,  the  explanation  to  how  it  could  go  on  for   such  a  long  period  of  time  and  an  investigation  on  how  it   could  be  prevented

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  • Bernie Ebbers

    Innocent or Guilty: Bernie Ebbers Part in the Downfall of WorldCom    The story surrounding the failure of WorldCom in the early 2000's is one that still haunts the financial market to this day. We often hear accounts of what happened within the telecom giant, but only one person could give a first-hand account of what she observed being the on the frontline and discovering one of the nation's biggest financial scandals of the last quarter century. Cynthia Cooper's account of her internal audit

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  • Madoff Ethics Case Study

    This case study is chronology of the largest Ponzi scheme in history. Bernie Madoff began his brokerage firm in 1960 and grew it into one of the largest on Wall Street, New York, USA .While doing so; he began investing money as a favor to family and friends, though he was not licensed to do so. Over a period of fifty years, these side investments became an investment fund that mushroomed into a $50 billion Ponzi scheme. Bernie pled guilty without a trial on March 12, 2009, and was sentenced to 150

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  • Madoff Bernard

    The Madoff investment scandal broke in December 2008, when former NASDAQ Chairman Bernard Madoff admitted that the wealth management arm of his business was an elaborate Ponzi scheme. Madoff founded the Wall Street firm Bernard L. Madoff Investment Securities LLC in 1960, and was its Chairman until his arrest.[1][2][3] At his firm he employed his brother Peter as Senior Managing Director and Chief Compliance Officer (Peter has since been sentenced to 10 years in prison), Peter's daughter Shana

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  • Madoff

    how they conduct themselves in their personal and business affairs. Killing, raping, and stealing are examples of such obvious actions that most people would agree are unethical. This relates to the subjective belief of rather Bernard Lawrence "Bernie" Madoff should remain in prison or out on bail because of the practicing of Ponzi schemes because it lies in the not so obvious realm of behavior. Why? There is no essential difference between someone who steals $5 and someone who steals billions it is

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  • Bernie Madoff

    Madoff's 55-foot fishing boat, “Bull”. The $17.1 billion that Mr Madoff claimed to have under management earlier this year is all but gone. His alleged confession that the fraud could top $50 billion looks increasingly plausible: clients have admitted to exposures amounting to more than half that. On December 16th the head of the Securities Investor Protection Corporation, which is recovering what it can for investors, said the multiple sets of accounts kept by the 70-year-old were in “complete

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  • Madoff

    Bernie Madoff & the Worst Pyramid Scheme in U.S. History It is said that we are the product of our upbringing, so it probably would not surprise you to learn that the biggest and worst financial fraud committed through a pyramid scheme in US History, was achieved by a man who was raised by parents that also commit financial frauds. Bernie Madoff was raised watching his parents Ralph and Sylvia Madoff run a business that was not successful in the financial trading world. That company was

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  • Madoff Case Study

    Author’s Viewpoint In the case study about the Bernie Madoff scandal, the author makes the point that the motivation to succeed in business can present a conflict with the fiduciary duty that a business person has to the client. There is question whether Madoff was motivated solely by greed, in which case he was engaged in a simple Ponzi scheme, or whether he used the Ponzi scheme to hide his failure to generate returns for his clients. Madoff’s lack of transparency violated the trust of his clients

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  • Pbs Madoff Reflection

    John Sawyer Investments 14 April 2015 The Bernie Madoff Affair PBS’s frontline brings us another documentary investigating Bernie Madoff’s manipulative career of investment advising. He started trading stocks with his family working for him making money markets. Michael Bienes is hired by Madoff to recruit investors. Madoff ran his side business of investment advising completely under the radar. He promised high returns of around 18%. Immediately whole families were jumping in blindly at

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  • Bernie Madoff

    Bernie Madoff Research Project Abronia S. Young D03202587 On March 12, 2009, Madoff pleaded guilty to 11 federal offenses, including securities fraud, wire fraud , mail fraud , money laundering, making false statements, perjury, theft from an employee benefit plan, and making false filings with the SEC. The Fraud In March 2009, Madoff admitted that since the mid-1990s he stopped trading and his returns had been fabricated. Madoff's sales pitch, an investment strategy consisted

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  • Case Madoff

    of firm or person. * Bernard Lawrence "Bernie" Madoff was born in April 29, 1938. He is an American swindler convicted of fraud and a former stockbroker, investment advisor, and financier. He is the former non-executive chairman of the NASDAQ stock market. * This financial fraud admitted case of a Ponzi scheme that is considers be the largest financial fraud in U.S history. II. Ethical issue * Since the arrest in December, 2008, Mr. Madoff has been under house arrest at the mansion

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  • Bernie Madoff Ponzi Scheme

    Abstract Bernie Madoff’s investment business began as a side business that he started to manage investments for family and friends. Through word of mouth, he began attraction outside investors and Bernard L. Madoff Investment Securities was formed. However, a few people were not fooled and saw the danger behind the facade. A few people heeded the warning sign that were evident all around Madoff. They filed reports with the SEC on several occasions but they were too inexperienced to look deeper

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  • Madoff

    Bernard Madoff Affair By: Katelynn Pucci Born on April 29, 1938, in Queens, New York an ordinary male was born by the name of Bernard Madoff. During his teenage years, Madoff showed absolutely no interest in finance; he was intrigued in the school swim team at Far Rockaway High School. When he was not competing in swim meets, he was lifeguarding at a beach club in Atlantic Beach, Long Island. Madoff attended the University of Alabama up graduation in 1956 for one year before transferring to Hofstra

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  • Bernie Madoff

    THE RISE AND FALL OF BERNIE MADOFF Bernadette Smith Business Law Professor Kopf 8/22/2010 Bernard Lawrence "Bernie" Madoff , born April 29, 1938 is an incarcerated former American stock broker, investment adviser, non-executive chairman of the NASDAQ stock market, and the admitted operator of what has been described as the largest Ponzi scheme in history. In March 2009, Madoff pleaded guilty to 11 federal crimes and admitted to turning his wealth management business into a massive Ponzi

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  • Madoff Case

    Bernard Madoff’s ponzi scheme was the largest in the history which defrauded investors out of as much as $65 billion. David Friehling, the leading auditor of Bernard L. Madoff Investment and Securities’ (BLMIS), was sentenced for aiding Madoff with investment advisor fraud, and filing false audit reports with the SEC. Since then, people are paying more and more attention to auditors’ and accountants’ legal liability. This document will describe the ways in which BLMIS auditor disregarded his responsibility

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  • Madoff

    review of the Madoff Securities case. The Madoff Securities case involved the cunning Bernard L. Madoff swindling his clients to believe that he could guarantee them high profits. Madoff is the largest Ponzi scheme in history. Madoff Securities Case Bernard L. Madoff started the investment firm Bernard L. Madoff Investment Securities (BLMIS). Bernard Madoff began trading securities from the 1960s. From as early as 1962, it is believed Madoff started hiding

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  • The Madoff Scandal

    The Madoff scandal 16 December 2008 The repercussions from the collapse of Bernard L. Madoff Investment Securities LLC, whose founder and owner was arrested last Thursday after admitting that his $17 billion investment advisory business was "a giant Ponzi scheme," continue to widen. According to a criminal complaint filed by the FBI and a civil action brought by the Securities and Exchange Commission (SEC), the elderly Madoff estimated that the losses from his fraud exceeded $50 billion. The

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  • Madoff

    withdrawals. Though these types of schemes have happened before, the first of this caliber was documented in the 1920’s by its namesake, Charles Ponzi. In 2008, Bernard “Bernie” Madoff was exposed for running the largest Ponzi scheme to date, conning investors out of over $65 billion over thirty years. INTRODUCTION Bernard Madoff was responsible for the largest reported Ponzi scheme in history. How did this happen? Who else knew about it? Why did it take so long for him to be exposed? This paper

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  • Bernie Madoff Research Project

    OST2335 COMM. IN THE WKFORCE - Fall 2012 ONLINE 412734 Assignment #3 (Chap 7)  TO: Debra Hart FROM: Alexandra Raffo DATE: October 30, 2011 SUBJECT: Chapter 5, Page 202, Expand Your Knowledge Question #1: What are five ways to attract more readers to your blog?   When creating a Blog, it is always important to have a target audience in mind. Your post and comments should have similar things in common, so users know what your blog is about. If your blog is messy, this can make users just

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  • Bernie Madoff Ethical Standards

    would indicate insolvency. Law takes profits away from all the investors in a Ponzi scheme (subject to a statute of limitations) and strips away (even) principal from those who should have known things were awry.” (3) The SEC was criticized after the Madoff scam went public for missing many opportunities in discovering his scheme. Many new reforms were proposed at the SEC during the aftermath of this event to try to prevent the SEC from not discovering schemes like this in the future. The reforms included

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  • Bernard Madoff

    Running head: BERNARD LA WRENCE "BERNIE" MADOFF 1 BERNARD LA WERENCE "BERNIE" MADOFF Naamah Pagan Augustine Weekley Business Law 1 August 21,2011 BERNARD LA WRENCE "BERNIE" MADOFF 2 Introduction Bernard Lawrence "Bernie" Madoff ran one of the largest Ponzi Schemes. A Ponzi scheme is a scam investment designed to separate investors from their money. It is named after Charles Ponzi, who constructed one such scheme at the beginning of the 20th century. The scheme is designed to convince

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  • Bernie

    Keenan Brown English 122 Mrs. Hemphill March. 16, 2016 U.S Election I think Bernie Sanders should be elected as president. He appears to be morally driven in terms of making America a great nation. He has consistently received less media coverage then Donald Trump and Hillary Clinton, both of whom he matches as far as the presidential polls. With the other candidates having a much greater media coverage on major

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  • Bernie Sanders

    Name AP Language and Composition 26 November 2015 Candidate, Bernie Sanders, in his presidential announcement, explains to his audience all he is willing to do as president. Sanders’ purpose is to persuade the audience to vote for him as president. He adopts a stern tone in order to appeal to the audiences needs and wants in his announcement speech. Sanders opens his speech by thanking everyone for their support. “Thank you all very much for the support that you have given me over the years

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  • Bernard Madoff

    Bernard Madoff and the 2008 Financial Crisis On December 11, 2008, the Securities and Exchange Commission (“SEC”) charged and arrested Bernard Madoff and his investment firm, Bernard L. Madoff Investment Securities LLC, with securities fraud for a multi-billion dollar Ponzi scheme. On March 12, 2009, Madoff pled guilty to an 11-count criminal complaint admitting to running an international Ponzi scheme and defrauding thousands of investors. The SEC defines a Ponzi scheme as an investment fund that

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  • Bernard Lawrence ‘Bernie” Madoff

    Bernard Lawrence ‘Bernie” Madoff Valerie Correa Prof. Masheika E. Allen     BUS 100 Mini Session 10/26/2010 1. Describe three types of illegal business behavior alleged against Mr. Madoff and for each type of behavior, explain how the behavior is illegal or unethical in the conduct of business. Mr. Madoff was found guilty of white collar crimes. Some of the crimes he

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  • Bernie Madoff

    “If It Quacks Like a Duck” Assignment 2 – Bernard Lawrence “Bernie” Madoff Business Law I March 4, 2011 Bernard Madoff Abstract Unethical behavior…sounds bad doesn’t it? But what employee can truly say that he is completely innocent of any unethical behavior in the workplace? Some of the most common unethical business behaviors are fudging work hours, making phone calls on business lines and photo copying of personal paperwork. Simple acts such as these are highly unlikely to have an

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  • Bernie Madoff

    an SEC examination or investigation of Bernard L. Madoff Investment Securities, LLC (BMIS) had any financial or other inappropriate connection with Bernard Madoff or the Madoff family that influenced the conduct of their examination or investigatory work. The OIG also did not find that former SEC Assistant Director Eric Swanson's romantic relationship with Bernard Madoffs niece, Shana Madoff, influenced the conduct of the SEC examinations of Madoff and his firm. We also did not find that senior officials

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  • Bernard Madoff Scandal

    all of them is the Bernard Madoff case, which is considered to be the largest fraud case of all time. “Madoff managed to lure billions of dollars away from huge charities, as well as wealthy individuals in both the United States and Europe by getting them to invest in his hedge fund. He did so by claiming extraordinary returns (generally in the low double digits). His scheme eventually reached a staggering $50 billion under "management" (Armstrong, 2008). Mr. Madoff was born on April 29, 1938;

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  • Madoff Securities

    CASE 1.12 MADOFF SECURITIES Synopsis A childhood friend summed up the driving force in Bernie Madoff’s life: “Bernie wanted to be rich.” As a youngster growing up in New York City, Bernie realized that Wall Street was the greatest wealth creation machine the world had ever known. So, after graduating from college in 1960, he set his sights on joining the exclusive fraternity that ran Wall Street by organizing his own one-man brokerage firm, Madoff Securities. Madoff was one of the first individuals

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  • Madoff

    http://www.sec.gov/answers/ponzi.htm Who is Bernie Madoff? Bernard L. Madoff, who is currently serving a 150-year sentence in federal prison, orchestrated a multi-billion dollar Ponzi scheme that swindled money from thousands of investors. Unlike the promoters of many Ponzi schemes, Madoff did not promise spectacular short-term investment returns. Instead, his investors’ phony account statements showed moderate, but consistently positive returns — even during turbulent market conditions. In

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  • Bernard Madoff

    other shortcuts in order to get more, even though they have to betray other people’s trust. These people don’t measure the consequences of their acts and most of the times they end up on jail, empty- handed. This was the case of the famous Bernard Madoff, the most famous person in the US, for having created a $50 billion dollars shortcut. The next pages are dedicated to explain how this guy decided to change his life and what consequences it brought to him.

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  • Bernie Madoff Downfall

    Bernie Madoff has become known to many people as the man that perpetrated by far the largest scam in the history. His reputation of a successful investor, financial genius, and a chairman of NASDAQ took a turn for the worst when his so called split strike conversion strategy turned out to be nothing but a huge ponzi scheme affecting thousands of investors from around the globe. Although many financial advisors questioned his strategy and argued that it is virtually impossible to achieve, he managed

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  • Bernie Madoff

    Bernard Madoff Research Paper Bernard (Bernie) Madoff committed this century’s largest Ponzi scheme to date. First we will define Ponzi Scheme – it is a fraudulent pyramid scheme where original investors are paid their gains out of new investors money so it would appear to old investor that the scheme (business) is producing an unusually large return (Albrecht, 2009). The Ponzi scheme that Madoff created and pulled off for years was quite intricate. In a standard pyramid scheme each victim

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  • Business Ethics Bernard Madoff

    Bernard Madoff was either the most ethically void individual or he just had no regard for ethics. He managed to pull off one the largest Ponzi scheme in history with very little help. He had a legitimate stock trading business on one floor and his illegitimate investment management business was on another floor (Ferrell, Ferrell & Fraedrich, 2011). The top executives in the company were family which leads to the question, did they really not know? This paper will examine the origin of the Ponzi

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  • Madoff the Mastermind

    Madoff the Mastermind Kory VanSpeybroeck AC 572 April 14, 2012 Bradley Trimble Madoff the Mastermind Bernard Madoff was a widely known investment broker who, for a long time, was able to swindle investors out of their money. He did this by implementing one of the largest Ponzi schemes in history. Discovering the exact details about who was involved, how heavily they were involved, and the extent of the losses incurred may yet take many years. The goal of this research is to attempt to

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  • Bernie Madoff

    Bernie Madoff Andrea L. Nolt Strayer University Intro to Business Professor Karina Arzumanova August 21, 2011 Bernie Madoff Bernard Lawrence “Bernie Madoff” is an American former stock broker, investment adviser, non-executive chairman of the NASDAQ stock market, and the admitted operator of what has been described as the largest Ponzi scheme in history. (Bernard Madoff, 2011) This paper discusses the massive Ponzi scheme that Mr. Madoff created and those that were affected by it.

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