Madoff’s employees consisted of family members, ‘feeders’ and inexperienced personnel; although Madoff took sole responsibility of the Ponzi scheme there were raised questions, which Madoff cooly evaded when presented to him. …show more content…
Some investors decided to sue the SEC for not upholding their responsibilities; furthermore, the Securities Investor Protection Group (SIPC) was enacted to compensate up to $500,000 per client for the theft in their business relationship with Madoff. The damage caused by Madoff’s Ponzi scheme is an example of the extent of white collar crime; Madoff’s clients, family and employees will live on with this tremendous loss. (Ferrell, et al