Charles Ponzi

In the passage," Isabella Stewart Gardner Heist: 25 years of theories", the police and FBI agents discovered that a special piece of artwork was stolen, Rembrandt's Christ in the Storm on the Sea of Galilee. The stolen work of art was worth $500 million dollars, making it known as the largest art theft in American History. Later on, it tells us about our main protagonist, a reporter for the Boston Herald. He tells us about some paint chips he received in1997 from people who were in charge of to…

Madoff Securities Madoff securities, is a company created by Bernard l. Madoff Investment Securities LLC was founded in the year 1960 by Bernard Lawrence Madoff, who happened to be also be senior executive of the company. Bernard Lawrence started the company using accumulated funds of $ 5,000 from his business that involved the installation of sprinkler systems for wealthy New Yorkers. In his five years as executive, the company accumulated a fortune estimated at more than one billion dollars.…

First off, let me just say that I take all responsibility for what I did. In fact, I’m actually quite proud of it, I mean actually who can steal $17 billion dollars in the space of less than a year, let alone half of a year. I suppose that you want to know why I did it, and to that I have no better answer than that I wanted to see if I could do it. Marvin will try to tell you that I was bullied, and exploited, but honestly I thought that it was quite fun mooching off of those rich jerks who…

One of the raging civil wars in the cryptocurrency world is Ethereum vs. Ethereum Classic. Similar to the in-fighting with Bitcoin and Bitcoin Cash, this civil war is causing a big divide among the cryptocurrency owners. So, what has caused the rift? Should you be moving away from the original and hedging your bets with Ethereum Classic? What Happened to Ethereum? The fallout began with a hack on the integral component that ran on the original Ethereum. There was a significant amount of money…

Akamai Technologies Incorporation, Polycom and People Support. His idea of doing business was just to receive the price information about a stock and then buy it right before it is up in the market for sale and then sell it to the price of his choice. This idea not only made him a wealthy rich person in the wall street but also a celebrity who featured in numerous business magazines and reality shows and once he was start being a role model in wall street to look up to since he rose the ranks…

Madoff was arrested on December 11 2009 and was accused of operating a $50 billion Ponzi scheme after confessing this to both of his sons, Andrew and Mark, who also worked there. He told his sons after his arrest that he had roughly $200-$300 million left in the business and that he wanted to provide that money to his employers before…

Mega-star music producer Scott Storch filed for bankruptcy yesterday, officially claiming a meager $3,600 in assets and $100 in cash. In 2010 he was worth $70 million. Storch's fortune came from producing blockbuster hits for artists like Beyonce, Christina Aguilera and Justin Timberlake, but he has allegedly blown it all on cars and cocaine. In 2010, Storch counted a total of 13 cars in the garage of his Miami mansion, including a $600,000 Mercedes SLR and a $1.7 million Bugatti Veyron. He…

Social Attitude of the Investment Industry after Bernie Madoff Bernie Madoff could be described as an ethical egotist, one who is heavily involved in an organization that does nothing but take advantage of others for personal gain (Bethel, 2015). As for his co-offenders, their personal values were more from an economic value orientation because they deemed his behavior as ethical and acceptable based upon their own financial gain (Bethel, 2015). Even today, Madoff continues to try to justify…

Payroll Scheme A. What measures could have been taken to prevent the fraud committed by Katie Jordan or detect it earlier? o Aramis Properties clearly fell victim to a ghost employee payroll scheme perpetrated by Katie Jordan. (Wells, 2014) The company could have prevented or detected the crime earlier if they added a few measures that strengthen their internal controls. Like most companies that fall victim to fraud, the mangers placed too much trust, in an employee, Jordan’s boss…

The ethical issues involved in the Madoff case were moral philosophy and value. The moral philosophy that Bernie Madoff portrayed completely defies the moral compass that most people use. Most people rely on their instinctive nature of honesty and trustworthiness. Bernie Madoff claims that he and his sons built a great investment firm to which there was no intention of unethical behavior. His unethical behavior got out of control and he didn’t know how to stop. The facts of the case prove…