ASSIGNEMENT: 1 MADOFF SECURITIES Submitted by Mohammed A Khan Submitted to Prof: Wendy Achilles Course: Acc 562 Advanced Auditing Dated: 10-25-2014 Introduction Since the ascent of money‚ different techniques have been developed and carried out to fool people of their assets. These methods have evolved together with advances in technology‚ and some have proved to be more efficient than other. One of the largest of these schemes ever carried out occurred in modern times in the United States
Premium Ponzi scheme Bernard Madoff Investment
Acting to benefit the interests of a majority is at the core of the consequentialist theory of utilitarianism‚ a philosophy carefully examined throughout the semester. Its merits and faults can be analysed through scrutinising the actions of Bernard Madoff‚ whose firm operated a scam claimed to be the largest financial fraud in the history of the United States. His deception provides insight into the implications of enacting a purely egoist business model and the repercussions of an absence of utilitarian
Premium Bernard Madoff Ethics Ponzi scheme
com/content/forensic-accountant/ Washington‚ Ruby. December 20‚ 2012. Bernard L. Madoff. The New York Times. Retrieved from: http://topics.nytimes.com/top/reference/timestopics/people/m/bernard_l_madoff/index.html Refrati‚ Amir. Frank‚ Rober. March 11‚ 2009. Madoff Set to Plead Guilty to 11 Felonies. The Wall Street Journal. Retrieved from: http://online.wsj.com/article/SB123669568988683829.html WEBCPA Staff. May 15‚ 2009. Forensic Accountants Reconstruct Madoff books. Accounting Today. Retrieved from: http://www
Premium Fraud Bernard Madoff Enron
ca/2009/07/earl-jones-canadian-ponzi/ CBCNEWS. (2009) Ponzi Scheme Suspects Family express ‘Grief‚ Shame’. Retrieved from: http://www.cbc.ca/news/canada/montreal/story/2009/07/20/earl-jones-family-statement.html The New York Times. (2013). Bernard L. Madoff. Retrieved from: http://topics.nytimes.com/top/reference/timestopics/people/m/bernard_l_madoff/index.html
Premium White-collar worker Ponzi scheme Confidence trick
Market in Kidneys: Efficient and Equitable. The Independent Review. 5(3). pp.373-385. BENNER‚ K. (2008). Did Madoff act alone? [Online] Available at: http://money. cnn.com/2008/12/18/news/newsmakers/madoff_didnt_act_alone.fortune/ [Accessed 7 December 2013]. BERNSTEIN‚ J. (2010). The Madoff Circle: Who Knew What? [Online] Available at: http://business-ethics.com/2010/06/03/1614-the-madoff-circle-who-knew-what/ [Accessed 7 December 2013]. BRICKNELL‚ S. (2011). Misuse of the non-profit sector for money
Premium Ethics Bernard Madoff Ponzi scheme
(2008). SEC Statement on Madoff Investigation. Weblog post‚ 17 December. Viewed January 18‚ 2009‚ from http://securitiesarbitration.blogspot.com/2008/12/sec-statement-on-madoff-investigation.html 2 3. Diana B. Henriques & Zachery Kouwe. (2008‚ December 11). Prominent Trader Accused of Defrauding Clients. The New York Times. Viewed January 17‚ 2009‚ from http://www.nytimes.com/2008/12/12/business/12scheme.html?_r=3&ref=business 4 5. Matthew Goldstein. (2008‚ 18 December). Madoff: What a Week. BusinessWeek
Premium Financial services Investment Bernard Madoff
Jeffrey Skilling‚ Bernie Madoff the Monster & the Other Smartest Guys of the Room Enron and Madoffs Ponzi scheme: two scandals that changed U.S. history and prove just how weak the controlling mechanisms of developed economies are. Enron‚ the seventh largest company in the United States‚ was declared bankrupt in December 200 1 after its investment partnership proved to be masking a colossal mountain of debt (around $1.2 billion). Similarly‚ Madoffs company‚ Bernard L. Madoff Investment Securities‚
Premium Bernard Madoff Enron Ponzi scheme
the Sarbanes-Oxley Act of 2002. A class action settlement of $7.185 billion was the largest of all time. Former President Jeff Skilling is serving a 24 year sentence. Bernard Madoff: New York money manager Bernard Madoff’s $65 billion Ponzi scheme‚ the largest fraud ever by an individual‚ was exposed in December 2008 when Madoff‚ now doing 150 years in prison‚ confessed to his sons. The case led the SEC‚ which missed several opportunities to stop the fraud‚ to focus on Ponzis and investment advisor
Premium Fraud Enron Class action
sums of money at a given time‚ and there must constantly be an inflow of money from new investors contributing to the scheme. Top broker‚ Bernie Madoff‚ was found guilty of this scheme‚ which will further be discussed below. News explaining what happened 1. Background Information Former Nasdaq Stock Market chairman‚ Bernard L. Madoff was arrested back in 2008 for conducting the largest Ponzi scheme in history. He was
Premium Ponzi scheme Bernard Madoff Confidence trick
Moreno Analyzing Ethical Behavior The Ethical Failure of the corporate G I A N T S In the course of this report‚ it will show the comparison of the ethical aspect of two well-known corporate giants‚ Enron and Bernie Madoff. The first subject Bernard Lawrence "Bernie" Madoff‚ Broker‚ Investment guru‚ Financier. Once herald as a financial king‚ he in his reign overnight turned white collar criminal‚ which led to a quick and easy demise. Second‚ Enron Corporation‚ known for energy and commodities
Premium Business ethics Bernard Madoff Ethics