Bernie Madoff is a former financier, stockbroker, and investment advisor who founded the firm named Madoff Investment Securities LLC in 1960. Madoff remained the president of the house until he was caught in 2008. Madoff’s firm was alleged to be the most market making firms as it did not require the specialist firms in the process of stockbroking and it contacted the investors over the counter right away. Madoff’s sons informed the authorities in 2008 that the firm’s asset management job is actually a lie under which the firm runs out a monumental Ponzi scheme which has been defrauding investors for a long time. It was subsequently learned that Madoff had been orchestrating the Ponzi scheme since early 1990s and according to some reports, it
