The Ponzi scheme Bernard L. Madoff entered a federal courtroom back in March of 2009 to admit that he had run a vast Ponzi scheme that robbed thousands of investors of their life savings. A Ponzi scheme is when potential investors are wooed with promises of usually large returns‚ usually attributed to the investment manager’s savvy skill‚ or some other “secret sauce”. Returns are repaid‚ at least for a time‚ out of the new investors principal‚ not from profits. This can continue as long as new
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On a crisp late October afternoon in Paris Bernard Arnault‚ Europe’s richest man‚ is talking about his upcoming trip to one of the fastest-growing outposts of his LVMH empire: Mongolia‚ of all places. "I like to see the reaction of the people in the shops‚" says the 61-year-old mogul in lightly accented but supple English. Dapper and slim‚ he wears a navy suit and matching tie made by his flagship fashion label‚ Christian Dior ( CHDRF.PK - news - people )‚ and handmade black loafers by Berluti‚ one
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Bernard Lawrence “Bernie” Madoff Shamele Jones Strayer University ENG 215 Professor Erica Ellsworth August 05‚ 2011 Thesis Bernie Madoff was one of the most prolific Ponzi-scheme artists in history. Madoff schemes netted him millions of dollars. Mr. Madoff used his BMIS Bernard L. Madoff Investment Securities a New York Limited Liability company‚ to commit fraud‚ money laundering‚ and perjury. This is just a few things that Mr. Bernard Madoff has done to many innocent investors‚ who
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Ponzi scheme. Why do we fall for it over and over again? What is a Ponzi scheme? A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. Ponzi scheme organizers often solicit new investors by promising to invest funds in opportunities claimed to generate high returns with little or no risk. In many Ponzi schemes‚ the fraudsters focus on attracting new money to make promised payments
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Bernard L. Madoff Investment Securities LLC operates as a securities broker/dealer in the United States and internationally. It provides executions for broker-dealers‚ banks‚ and financial institutions. The company was founded in 1960 and is headquartered in New York‚ New York. As of December 15‚ 2008‚ Bernard L. Madoff Investment Securities LLC is in liquidation. Madoff founded the Wall Street firm Bernard L. Madoff Investment Securities LLC in 1960 Bernard Madoff was born on April 29‚ 1938‚ in
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destroy one of the largest communications companies in the United States and world. A humble motel owner‚ Bernard Ebbers took a small long distance company in 1983 and turned it into one of the most successful businesses in the country. It was not so much the business operations that caused the company to grow but the aggressive acquisitions that made the company grow. In its day‚ CEO Bernard Ebbers led the company through seventeen mergers and acquisitions‚ including the (at the time) largest ever
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scandals regarding business ethics in more recent times. The scandal was a complex Ponzi scheme ran by Bernard Madoff. A Ponzi scheme was originally named after Charles Ponzi‚ who would pay returns to its investors from new capital paid to the operators by new investors rather than any profit generated. Bernard Madoff ran the largest Ponzi scheme in history through his wealth management firm‚ Bernard L. Madoff Investment Securities LLC. The estimated amount of the fraud was about $64.8 billion based
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The film ‘American Beauty’ in short is eye opening and controversial at best. It challenges our perceptions of society and social interactions and how we perceive everyday things such as beauty. It is a film which also steps of the ‘beaten track’ of film techniques and uses more skewed and controversial methods of getting the film’s message and themes across to the audience‚ often resorting to making that said audience feel uncomfortable and insecure. Because of ‘American Beauty’ being far from
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St. Bernard’s letter‚ Ascetic Reaction‚ reflects a puritan and conservative interpretation of the architectural and sculptural structure of the Cluniac church of Saint-Pierre. As a monk and abbot of the Cistercian order‚ St. Bernard is predisposed to Saint Benedict’s ‘ideal’ organization and structure of monastic life. To observers of Saint Benedict’s rules‚ the monastery is designed as a self-sustaining complex where time is dedicated to manual labor and biblical study. His letter addresses the
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who help us throughout our progress. We also like to thank the finance team to give us all the available data. I would like to thank Mr.Prasanna Bhaskar who help us throughout our surveys and our analysis about this topic. Above all‚ our CEO Mr. Bernard Arnault‚ who gave us the opportunity to carry out these surveys. Executive Summary: This report will present the current scenario in the Indian Market for the Louis Vuitton Brand products. It will then project the wide scope for the brand in India
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