Madoff Case

Case 8: The Fraud of the Century: The Case of Bernard macabre wrap up Introduction Bernard Lawrence Bernie Madoff is a former Ameri locoweed businessman, bearbroker, investment advisor, and the former non-executive chairman of the NASDAQ stock market. He is rattling succeederful in his early life. Madoff founded the fence in Street whole Bernard L. Madoff Investment Securities LLC in 1960 by acquire and selling over-the- regaining stocks that were not listed on the NYSE. As he became more successful, he moved the confederacys central office from circumvent Street to the famous Lipstick Building on terce Avenue. After that, Madoff started to help his investors to care their money. He utilise Ponzi connive to cheat his clients by promising of consistent returns of 10 to 12 percent. Base on his trustworthy and reputation, he success to view billions of dollars from hundreds of investors. Basically, Madoff just took money from new-fangledfound investors and uses it t o pay off the doddery investors. Why he back make it because a sight of investors lack monetary knowledge. Also they wont possibility about what the investment is as long as Madoff can make money for them. People didnt know what is handout on until Madoff cant find any new investor to throw money in his schemes. After that, his schemes collapsed.

In bound 2009, Madoff pleaded guilty to 11 federal felonies and admitted to turning his wealth central point business into a massive Ponzi scheme barely he never indicated the involvement of any other company employees or his family members. After the investigation, investigators too found 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 answer for 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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