Madoff Securities Case Choukri Alaoui Liberty University Madoff Case Summary On December 11‚ 2008‚ Madoff was under arrest by federal agents and charged in a twenty years securities scheme that was the largest fraud in the history of Wall Street. On March 12‚ 2009‚ he pleaded guilty to all the federal charges filed against him counting securities fraud‚ money laundering and perjury. He had been one of the most valued financiers in Wall Street up to this scheme. He was nothing but another individual
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Bernard Madoff is a modern day Visigoth for several reasons. He is one of the largest white collar criminals of all time. In fact‚ he has committed one of the most elaborate Ponzi schemes‚ which is considered to be the largest financial fraud in history. For those who do not know what a Ponzi scheme is – it is a fraudulent investment that pays returns to its investors from their own money‚ or the money of other investors‚ rather than through profits of the organization. The scheme entices investors
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Robin Wake 10/24/12 Choice Theories Madoff was a master thief and financier. In 2008‚ he revealed that the asset management arm of his firm‚ Bernard L. Madoff Investment Securities‚ was "just one big lie". In what he described as a Ponzi scheme‚ he took his investors for $65 billion over the course of two decades. The scheme wasn’t revealed until Madoff himself confessed his crimes (How Ponzi Schemes Work). I believe this is based on the rational choice theory. For example‚ a drug addict may
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Bernard Madoff is most prominently known by the public as the man responsible for the largest known Ponzi scheme in the United State’s history. Madoff ran his Ponzi scheme through the company he founded‚ Bernard L. Madoff Investment Securities (BLMIS). Bernard was taking investor’s money spending it for personal gain while simultaneously coaxing new investors and using their investments to pay off the old investors. When Bernard’s scheme was uncovered in 2008 it had reached a total of 50 billion
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leader of Ponzi schemes are the most respected and trustworthy businessmen. The most notable of these was Bernard Madoff. He is known to have orchestrated the largest financial fraud in U.S. history. In 1960‚ Madoff opened his business‚ Bernard L. Madoff Investments LLC.‚ with the help of his father-in-law. His investment company dealt directly with retail brokers in the stock market. Madoff was able to successfully run his business from 1960 until 2008. His business practices were first questioned
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Bernie Sanders has lead the poll in New Hampshire and Iowa‚ according to CBS News polls Sanders has surpassed Clinton by 10% in Iowa‚ and 22% in New Hampshire. He claims to be a Democratic socialist‚ for some that’s a red flag in this “self-made” society. But apparently this is not the case anymore. There has been a lack of belief towards Sanders‚ even though he shows leading the polls‚ people believe he won’t make it to the White House. Although‚ Sanders supporters are extremely enthusiastic‚ with
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Hanoof AlMusaiteer 428201654 Dr. Haifa AlFaisal ENG. 461 4 April 2013 New Historicism Analysis Approach Hotel California by the American rock band‚ the Eagles was and still a hit song since it was first released back in 1977. This song won the 1977 Grammy Award for record of the year and has become perhaps the band’s quintessential song. Hotel California was written by three of the band members Glenn Frey who was born in the 6th of November 1948 in a middle class family who cared to shape
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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.accountingtoday
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Many of us ask ourselves “Why vote for Bernie Sander?”. Many may argue that Bernie Sanders is way too old to be President‚ but truth is that the older they are the wiser they are. Bernie Sanders has stated that he’ll change many things‚ but that’s what every candidate says‚ the real question is will he has really done everything he has said he’ll change? Bernie Sanders has stated that he’ll change the minimum wage to $15‚ do public college free/affordable‚ universal healthcare‚ transform our energy
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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
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