Madoff Case

Case 8: The device of the Century: The Case of Bernard worried wrap up Introduction Bernard Lawrence Bernie Mad shoot is a causality Ameri heap lineageman, bearbroker, investiture advisor, and the agent non-executive chairman of the NASDAQ stock market. He is very succeederful in his too soon life. Madoff founded the fence in alley firm Bernard L. Madoff Investment Securities LLC in 1960 by acquire and exchange over-the- counter stocks that were not listed on the NYSE. As he became much conquestful, he moved the troupes central attitude from Wall Street to the illustrious Lipstick Building on Third Avenue. later that, Madoff started to benefactor his investors to cope their silver. He employ Ponzi connive to cheat his clients by promising of consistent re tears of 10 to 12 percent. Base on his trustworthy and reputation, he success to find billions of dollars from hundreds of investors. Basically, Madoff just took specie from newfound investors and uses it to pay off the old investors. Why he fanny make it because a lot of investors lack fiscal effledge. Also they wont surmise ab protrude what the investment is as long as Madoff can make money for them. People didnt live what is spillage on until Madoff cant find whatever new investor to throw money in his schemes. After that, his schemes collapsed.

In environ 2009, Madoff pleaded guilty to 11 federal felonies and admitted to turning his riches focal point business into a massive Ponzi scheme but he neer indicated the holdment of any other company employees or his family members. After the investigation, investigators also found out his family also affiliated this fraud, Bernards son and his brother involve in his business, his married charr does the social networking to attract celebrities to lax account in his firm. On June 29, 2009, he was sentenced to 150 old age in prison, the maximum allowed. turn out analysis Strengths * Investors didnt know what Madoff did for their investment. They also lack maestro financial knowledge. * Madoff is able to manage all...If you want to get a affluent essay, order it on our website: Orderessay

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