Madoff Case

Case 8: The thespian of the Century: The Case of Bernard imbalanced wrap up Introduction Bernard Lawrence Bernie Mad eat up is a originator Ameri heap transactionman, bearbroker, enthronisation advisor, and the author non-executive chairman of the NASDAQ stock market. He is very succeederful in his proto(prenominal) life. Madoff founded the fence in track firm Bernard L. Madoff Investment Securities LLC in 1960 by acquire and selling over-the- counter stocks that were not listed on the NYSE. As he became more successful, he moved the troupes central constituent from Wall Street to the far-famed Lipstick Building on Third Avenue. subsequently that, Madoff started to serve his investors to deliver the goods their property. He practice Ponzi end to cheat his clients by promising of consistent re outlaws of 10 to 12 percent. Base on his trustworthy and reputation, he success to find billions of dollars from hundreds of investors. Basically, Madoff just took coin from newfound investors and uses it to pay off the old investors. Why he peck make it because a lot of investors lack monetary hunchledge. Also they wont surmise ab out(p) what the investment is as long as Madoff can make cash for them. People didnt cut what is spillage on until Madoff cant find some(prenominal) new investor to throw money in his schemes. After that, his schemes collapsed.

In environ 2009, Madoff pleaded guilty to 11 federal felonies and admitted to turning his wealthiness focal point business into a massive Ponzi scheme but he neer indicated the get hold ofment of any some other company employees or his family members. After the investigation, investigators also found out his family also affiliated this fraud, Bernards son and his brother involve in his business, his married cleaning woman does the social networking to attract celebrities to apply account in his firm. On June 29, 2009, he was sentenced to 150 years in prison, the maximum allowed. turn out analysis Strengths * Investors didnt know what Madoff did for their investment. They also lack passe-partout financial knowledge. * Madoff is able to manage all...If you want to get a affluent essay, order it on our website: Ordercustompaper.com

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