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The most controversial case of fraud in history left more questions than answers. Bernard Madoff,

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The most controversial case of fraud in history left more questions than answers. Bernard Madoff, with his company "Investment Securities LLC", chose the easy way to give him greater gains scamming people. Using the prestige he had and giant Ponzi scheme. That was how he was creating his fraud. Madoff did not steal the money immediately but was paid the promised returns with money paid by the entry of new customers paying its customers their profits and not realize and would not take legal action, this intelligent man or charlatan achievement out this scam film for over 20 years. Madoff achieving the greatest fraud in history with losses of more than 50,000 million alone was compared with the Enron case. In June 29, 2009, he was sentenced…show more content…
His legacy is a fraud of more than 50,000 million, affecting families , large financial institutions and charities have been cheated with so-called " hedge funds " are hedge funds that collectively makes traded and are held privately . Besides are not available to the public but because they require large amounts of money for investment.
Why was ingenious Madoff?
As Amir Weitmann (2009) said “In fact, fraud was not so obvious. Many competent and professional investors have lost money in this case, and are very easy to say they are all inept, incompetent, or corrupt. "But it is to believe. The mechanism Madoff was a Ponzi scheme, where profitability is not paid for the assets invested but by contributing to the fund money. The technique was not financial but personal: lie and have credibility. This is what Madoff did with great skill. In addition to its long experience, perfect background and charitable donations. Bernard Madoff paid investors every year an unspectacular but respectable profitability and stable. In it he settled the evil genius of Madoff, an attraction for investors in the hope of winning and the fear of losing. However, unlike the rest of fraudsters, who did not propose too high as to arouse fear of risk performance.
Madoff began his career on Wall Street in 1960 and ended December 11, 2008, when he was arrested
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