Madoff Case

Case 8: The Fraud of the Century: The Case of Bernard disgusted 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 very succeederful in his early life. Madoff founded the fence in Street potent Bernard L. Madoff Investment Securities LLC in 1960 by acquire and selling over-the- restoration stocks that were not listed on the NYSE. As he became more successful, he moved the companionships central office from ring Street to the famous Lipstick Building on leash Avenue. After that, Madoff started to help his investors to rule their money. He utilise Ponzi lineation to cheat his clients by promising of consistent returns of 10 to 12 percent. Base on his trustworthy and reputation, he success to decide billions of dollars from hundreds of investors. Basically, Madoff just took money from new-sprung(prenominal)found investors and u ses it to pay off the anile investors. Why he rouse make it because a plentifulness of investors lack monetary slamledge. Also they wont assumption about what the investment is as long as Madoff can make money for them. People didnt know what is loss on until Madoff cant find any new investor to throw money in his schemes. After that, his schemes collapsed.

In hardlyt against 2009, Madoff pleaded guilty to 11 federal felonies and admitted to turning his wealth focal point business into a massive Ponzi scheme but he never indicated the involvement of any other company employees or his family members. Afte r the investigation, investigators overly f! ound 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 trace 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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