Case Study Of Bernie Madoff

1092 Words5 Pages
The Bernie Madoff Scandal Bernard Lawrence Madoff was born on April 29, 1938, in Queens, New York to parents Ralph and Sylvia Madoff. In early life Bernie had come from a household of diverse culture, with his father Ralph being a child of Polish immigrants and mother Sylvia being the daughter of Romanian and Austrian immigrants. Ralph and Sylvia had gotten married in 1932 during the height of the Great depression. During this time, the family had been financially struggling and decided to invest most their time into finance to change for the better. Young Bernie didn’t have much interest in finance at time and remained most of his focus towards his academics, sports, and his girlfriend Ruth Alpern; Who down the road became his wife. During High School Bernie was hired as a lifeguard by his swimming coach and worked as a life guard at “Silver Point Beach Club in Atlantic Beach, Long Island” when Bernie wasn’t occupied by swim meets. Madoff began saving most his earnings from his lifeguard gig towards later investments. After graduation from Far Rockaway High School Bernie Madoff enrolled and graduated from Hofstra University, Long Island with a bachelor’s degree in political science in 1960. Shortly after graduation Bernie had used 5,000 dollars of savings from his lifeguard job back in high school as well as a 50,000-dollar loan from is in-laws to invest in Bernard L. Madoff Investment Securities, LLC. A firm founded by Him and Ruth. As the expansion of the business

More about Case Study Of Bernie Madoff

Get Access