Bernard Madoff Essay

I have selected Bernard Madoff, stock broker and financial adviser at Bernard L. Madoff Investment Securities and he was a former chairman of NASDAQ as an unethical leader. He promised investors large returns on their investment. He started a Ponzi Scheme that pays its investors by recruiting new investor so that the principal they pay can be used to pay older investors. He would let the investors know how they are making periodically without any real returns. He told them that it was due to business. He started off small with country clubs and charity events knowing that investors would be there. Madoff was known for his big investment return on people’s money and many investors would trust him and give them their life savings to invest. He was convicted of many fraud counts and is in prison for 150 years and $170 billion restitution to be paid for running the biggest fraudulent scheme in U.S. history. His personal assets where frozen which created a chain reaction throughout the world’s business forcing organization to temporarily close.
In the article, ethical leadership, decision-making, and organizations, mentions “the ethical approach to business and investment seeks to maximize profit and return on investment while …show more content…
In this article, it mentions how sometimes “it can be difficult for leaders to determine what’s right and wrong.” This article also mentions that there are many companies that do have good leaders and inspires others within their organization to “do the right thing, at the right time, for the right reasons.” Good leaders tend to have personal values which they feel good about following. Others that work for this leader will tend to have respect this leader and want to follow in their