Bernard Madoff

perpetrator plays his cards right. This is accurately highlighted in what is commonly known as one of the largest Ponzi schemes in history - the Madoff Ponzi scheme perpetrated in the United States. In 2009 Bernard L. Madoff, principal of Bernard L. Madoff Investment Securities LLC, pled guilty to defrauding investors of an estimated $64.8 billion. Madoff, who was charged with conducting a multinational, multibillion-dollar Ponzi scheme, pled guilty to charges of securities fraud, investment…

Bernard Madoff was clever and successful in his efforts to woo some of the wealthiest and most intelligent clients, by gaining the trust of his clients. Successfully, Madoff gained prestige and credibility as he served on charitable boards and held a seat on the government advisory board on stock market regulation. Interestingly, as Madoff’s prestige and credibility continued to grow, he promised a continuous return of 10 to12 percent on investments. As a result, investors were eager to become a…

peer influence among deviant youths or special mechanism of becoming certain criminals. Sutherland believed differential association did not apply to the lower class but it also applied to the respectable individuals with high social status. Bernard Madoff would be considered in the category of differential association theory because his…

QUESTION 2 Start the question by defining a Ponzi and a Pyramid scheme; A Ponzi Scheme: "A con artist offers obligations that promise very high returns at seemingly very low risk from a business that does in fact exist or a secret idea that does not work out. The con artist helps himself to the investors' money, and pays a promised high returns to earlier investors from the money handed over by these and later investors. The scheme ends when there is no more money from the new investors"(Frankel…

I believe that Bernard Madoff did not work alone. I also believe that he had help in creating and sustaining his Ponzi scheme. I do believe that this represents a conflict of interest. I believe that Bernard Madoff did not work alone. It is hard for me to image one individual working alone to create such the scheme. I believe that Bernard Madoff worked with someone, maybe his wife, to keep the money and paperwork shady. This also adds to my belief that he had help in creating and sustaining…

money from another, only to give a portion of the second persons money to the first investor as a supposed return on their previous investments. The notorious Bernie Madoff used this simple concept to essentially steal billions of dollars from people all around the world. In 1960 Madoff founded the investment firm Bernie L. Madoff Investment Securities LLC, and he sat as chairman of the company for the entirety of his career before his arrest. At the time of his arrest, he claimed the firm had…

Crazy Eddie Eddie Antar, better known as “Crazy Eddie,” is a very prevalent fraudster in the world of accounting. Antar is well known for his schemes regarding Crazy Eddie Electronics, the company he cofounded with his father. Eddie was a family man, a ladies man, and a rich man. Eddie was a millionaire, with roughly 53 million dollars in swiss bank accounts until he was caught by the downfall of his family Antar was born in Brooklyn, NY on December 18, 1947. He grew up in Brooklyn, with his…

A tall lone figure was at an unknown location in New York. The mysterious individual was dressed in a thick coat that was as black as the night sky. Sitting at his grand desk, he started to plan his revenge. This evil villain’s name was Sin Rostro.Also in New York lived an honourable hero. He was named NINDROID 27. He had humongous muscles and was the local hero of the people in the ‘Big Apple’. Fighting villains was his life. NINDROID 27 could lift 50 cars with ease and could fly speedily in…

The Madoff Scandal At one point in time owning the last name of Madoff was a very powerful and respected title, on a cold winter’s day that all changed. When my Father Bernie Madoff came and confessed to my brother and me about a multibillion scandal he has been running since the early 1990’s it changed everything. This grand truth swept the legs from under me. I remembered that it came as such a blow that I had to sit down. I could not even process the magnitude of what he had just told me.…

a few ethical issues that come to the surface in this white collar crime. Bernie Madoff is the epitome of unethical business practices and how the fallout is not worth the crime. Madoff has admitted that he knew he would eventually get caught and in a recent interview from jail has suggested that he could have had a successful career. The ethical issues and what made a human being do this is insurmountable. Madoff being a successful financier knew that he could not keep up the charade. More…