Madoff Case

Case 8: The Fraud of the Century: The Case of Bernard angry wrap up Introduction Bernard Lawrence Bernie Madoff is a former Ameri motorbus 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 tighten Bernard L. Madoff Investment Securities LLC in 1960 by acquire and selling over-the- call stocks that were not listed on the NYSE. As he became more successful, he moved the lodges central office from paries Street to the famous Lipstick Building on deuce-ace Avenue. After that, Madoff started to help his investors to pick out their money. He utilise Ponzi intrigue to cheat his clients by promising of consistent returns of 10 to 12 percent. Base on his trustworthy and reputation, he success to beget billions of dollars from hundreds of investors. Basically, Madoff just took money from latefound investors and uses it to pay off the o ctogenarian investors. Why he sack up make it because a dispense of investors lack monetary realiseledge. Also they wont suspect about what the investment is as long as Madoff can make money for them. People didnt know what is spillage on until Madoff cant find any new investor to throw money in his schemes. After that, his schemes collapsed.

In butt on 2009, Madoff pleaded guilty to 11 federal felonies and admitted to turning his wealth central point business into a massive Ponzi scheme but he never indicated the involvement of any other company employees or his family members. After the investigation, investigators similarly found out his famil! y 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 draw 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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