'Bernie Madoff Case Study'

'Bernie Madoff was a well cognise and a well-liked human beings on besiege Street. Madoff had an impeccable reputation, non only in the investment market, hardly socially, too: Nasdaq do him its chairman; the Securities and change Commission constitute him to industry panels; Madoff was in time able to put with the Wilpons, owner of the sassy York Mets, for his staffers to play liberality softball games on the field at Shea Stadium  (Bandler et al. 52). That is why the nation was stupid(p) to learn that on December 11, 2008, Bernie Madoff was fixed on charges of theft of billions of dollars from his clients over the decades prior to his arrest (Dodge The IT Secrets  26).\nBernie Madoff ran an elaborate Ponzi intrigue at his investment comp both, Bernard Madoff Investment Securities, with the care of Frank DiPascali. DiPascali was responsible for overseeing the seventeenth floor, the localisation of function where the illegitimate headache trades occurred (Band ler et al. 50). Madoff conducted the Ponzi scheme in the fol measlying agency: he would mother investments from outside investors; he would, in turn, map those finances to chip in senior investors. The funds that Madoff received were neer used to cultivate actual trades; the company, instead, produced faux trades. To keep suspicions low in the investors, Madoff had the staffers of the seventeenth floor pull in fictitious quarterly statements to mail out. The investors were mirthful with the returns that the statements reports, so no suspicions ever arose (Dodge The engineering science Behind  22).\nAlthough suspicions never arose with the investors, suspicions did, however, arise with the Securities and step in Commission. The SEC, on at least cardinal occasions solution in 1992, investigated Madoff and his company. On each occasion, though, the SECs auditors never uncovered any fraudulent activities, which allowed Madoff to retain the illegitimate blood line trade s for an extended degree of time (Rhee 366). Madoff keep ... '