Bernard Madoff

According to regulatory filings, in 2008, the Madoff firm had more than $17 billion in assets under management. He founded his frim in 1960. Also, the FBI and civil action brought by the Securities and Exchange Commission(SEC), Madoff estimate the loss his fraud exceeded $50 billion. The banks reported the losses. Moreover, wealthy investors and hedge funds climbed over the weekend for about $20 billion. Also, banks all over the world in the US, Britain, Spain, Italy, France, Japan and Switzerland

The Bernie Madoff Investment scheme is an accounting scandal well known around the world as the biggest, and most significant Ponzi scheme to have ever been pulled off in American history, amounting to about $64.8 billion. Bernard Lawrence Madoff, more known to the world as Bernie Madoff was a former investment advisor, financier as well as stockbroker. He founded Bernard L. Madoff Investment Securities LLC in 1960, a wall street firm and one of the largest market makers at NASDAQ. He was the chairman

Introduction This paper introduces Bernard L. Madoff a fraudster who orchestrated a multi-billion dollar Ponzi scheme. The paper discusses elements that make up a Ponzi scheme and explains what a Ponzi scheme is. The paper goes on to introduce some of the victim’s and examines some reasons why someone might fall victim to a Ponzi scheme. The paper describes the three elements making up the fraud triangle and how they relate to the fraud and the fraudster. This paper covers Bernard Madoff’s background and

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 December 2008, the SEC charged Bernard Madoff and

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

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

Schemes 16 The SEC Failure 17 SEC post- Madoff 19 Hedge Fund Transparency 20 Conclusion 21 Bibliography 25 Tables Table 1: List of Madoff Clients (taken from the "The New York Times", last updated June 24, 2009) 15 Table 2: 2009 Ponzi Scheme SEC Charges 17 Figures Figure 1 Fairfield Sentry vs Gateway 6 Figure 2 Madoff Investor Funds (taken from http://orgnet.com/madoff.html) 7 Introduction Operating from central Manhattan, Bernie Madoff developed the first and biggest global Ponzi

the Bernard Madoff ponzi scheme but failed to disclose this information. As Board of Directors and Executives it was within their primary job description to maximize the profits of the company thereby reaping higher returns for their shareholders. So one might assume their inaction was for the benefit of shareholders and much to the detriment of the unfortunate Madoff victims. To combat this assumption it turns out large amounts of money of the value of $300million was invested in Bernard Madoff

This book talks about how Bernie Madoff was a liar and a cheat to American society where people got used betrayed and lied to because of him in belief they were going to becoming wealthy. Madoff was the world’s biggest thief that stole millions from people and destroyed numerous lives. He made people believe they were going to ‘get rich quick’ and that was his incentive on getting people to participate in his schemes. The book reports how this crook used his legal business as a broker-dealer and

Bernard Madoff was the ring leader behind what many to believe as one of if not the biggest case of fraud in United States history. It has been said that he is responsible for the theft of over $60 billion from investors that thought they were making a worthy investment. His process is what is referred to as a Ponzi scheme which is an illegal financial practice and Madoff is now paying the price for his actions. Bernard Lawrence Madoff was born in Queens, New York no April 29, 1938. Madoff is the