Ponzi scheme

In late 2008, I remember my father complaining about losing a significant amount of money in the stocks he had been investing in at the time. I asked him why his stocks were doing so poorly, and he told me in the simplest terms an uninformed fourteen year old could understand. In addition to a variety of other more complex factors I wouldn’t comprehend, a lot of negative news was being reported about the performance of a variety of different companies and the recent spike in unemployment rates…

the course of their profession or occupation (Brody and Kent 2010). Financial fraud, embezzlement, insider trading, identity theft, and forgery are a few examples of crimes of a corporate nature. A white-collar crime described as “the largest Ponzi-type scheme in Canadian history” (Ewart 2015) by Gary Sorenson, 71, and Milowe Brost, 61 took place in Calgary Alberta 2015. The pair had allegedly deceived and conned large corporations, by way of taking funds from new investors for various…

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…

2008 financial crisis, a fraudster named Bernard Madoff was caught running a Ponzi scheme, which destroyed many people’s lives. This could have been prevented if the people investing into his fund used their financial knowledge and questioned him about how someone could give a steady return of investment. Eventually, it led to people never recovering their money and many people to lose their life savings from one scheme. A lesson can be learned to never put all the eggs into the same basket and…

However, Steffensmeier et al. (2013:469) state that women are risk averse and do not play major roles in white-collar crime. Two prolific women have defied qualities of normative femininity and have played major roles in the orchestration of a corporate crime challenging Steffensmeier’s argument. By taking risks and demonstrating assertiveness while holding a dominant position in their businesses, Michelle Tobin and Monica Iles were able to carry out corporate offences in their unmonitored and…

Bernie Madoff was a master at impression management or social engineering. According to psychiatrists impression management has three goals. Ingratiation, this means to convey displaying certain positive emotions such as happiness to mimic good will. Intimidation to strike fear into the hearts of the people you want to fool, and supplication to get others to be helpful. These 3 qualities describe Bernie Madoff to a tea. All these characteristics work together to fool your victim into perceiving…

Charles Ponzi was a person who was notorious for his Ponzi scheme in the 1920s, and several others have committed fraudulent acts since then. Fraudulent acts are obtaining something through deception. A lot of fraudulent acts are committed by business students, possibly containing a lack of morals, and science students are also often accused of containing a lack of morals. This paper aims to analyze the connection between low morals, business students, and science students claimed by an…

Christian investment adviser, according to federal investigators on Tuesday. Aside from scamming Mark Sanchez out of US$7.8 million, Ash Narayan also deceived San Francisco Giants pitcher Jake Peavy and retired Houston Astros pitcher Roy Oswalt in a Ponzi-like scheme. Based on the lawsuit filed by the Securities and Exchange Commission (SEC) last month, the investment adviser told his clients that their money would be invested in low-risk businesses but actually put US$33 million in…

particular types of investigations. The government must be able to prove beyond a reasonable doubt that the defendant knowingly or intentionally participated in a scheme or plot to defraud another of money or property ("U.S. Department of Justice," n.d.). These types of crimes would be most notably known today as the Ponzi scheme or pyramid scheme, where investors take the monies of others, keep a share and pay the old investors the interest payments with new investors money. Eventually the…

Compare and contrast the criminal careers of occasional and conventional offenders. Should the criminal justice response to these types of offenders vary? Support your answer. Property crimes can be divided into several categories two of which are occasional and conventional crimes. Occasional crimes can include vandalism, shop lifting, auto theft, and writing bad checks (Hagen, 2013). The other type of crimes are conventional crimes. These crimes can include burglary and theft often with the…