Bernie Madoff Ponzi Scheme Research Papers

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Natalie Oswari Prof. Vukeles Business 340 2 November 2014 Bernie Madoff Money sometimes makes people blind. When people do not feel satisfied with what they have, they will literally will do anything, even crime. Unfortunately many crimes are committed each day. As well as Ponzi scheme. According to U.S. Securities and Exchange Admission Ponzi scheme is, “an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. A well-known who did Ponzi scheme is the Bernie Madoff. He was the biggest fraud committed in the history of wall street. Bernie Madoff was a well-known figure in the stock market place and had a great reputation in his long lasting career; he also had connections and influences in many agencies (World Socialist Web Site [WSWS], 2008). Madoff is the author of the biggest and well organized financial fraud in the history with international ramifications, recognized to be the biggest “Ponzi Scheme” ever (Rouge Columnist, 2008). A Ponzi Scheme is investment fraud that involves the payment of supposed returns to existing investors from funds supplied by new investors (U.S. Securities and Exchange Commission [SEC],…show more content…
Madoff promised short-term returns that were not extremely high but were consistent over time, as shown on investors’ false statements (SEC, n.d.). The span of his Ponzi Scheme impacted hedge funds, banks, wealthy individuals, charities, universities, and many other individual investors and companies (WSWS, 2008). The Jewish community also suffered the consequences of his fraudulent scams; Jewish philanthropy was impacted in great scale and the overall Jewish economy: hospitals, universities, schools, and community centers were entirely affected by Madoff’s scheme (MoneyLaw,
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