The Ponzi Scheme (Bernie Madoff)
The Ponzi Scheme (Bernie Madoff)
The Ponzi Scheme (Bernie Madoff)
(Bernie Madoff)
MEREDITH, PAIGE ,HALA AND M.SAAD
About Bernie Madoff
Convections: security fraud , investment advisor trust fraud , mail fraud , wire fraud ,
money laundering , false statements , perjury , making false filling with the
SEC ,theft from an employee benefit plan
Penalty : 150 years in federal prison and $170 billion in resolution
Bernard Madoff per prated a multi billion dollar scam that defrauded investors
around the world for decades until his arrest in December 2008 , madoffs fraud led to
many financial ruin and his name is now famous .
Impact on others
Bernard L. Madoff investment securities LLC was a wall street investment firm
founded by Madoff , who tricked investors out of $64.8 bn through the largest
Ponzi scheme