Bernie Madoff started his family-operated business legally selling stocks before committing one of the largest white-collar crimes of our generation. Madoff was a credible and well-respected figure on Wall Street. He was lobbying for investment changes, sat on an advisory committee for regulation of the stock market, and served as the Chairman of NASDAQ (Ferrell, Fraedrich & Ferrell, 2013). As Madoff became more respected, his clientele list became more select. Bernie Madoff promised his wealthy investors that he could generate consistent returns on their investments while they would sit back and wait for the right time to cash in. Madoff’s entire Ponzi scheme was based on the trust his investors had in him and the profits he could bring
