About Bernie Madoff: Infamous Financial Fraud Manager
Bernie Madoff in his infamous financial fraud managed to influence thousands of investors to give out their savings promising them that they would receive consistent profits in return. One of the major networks that played a major role in Madoff’s scheme is the fact that he had established strong social relations. Social relation is often considered a major condition for building trust among those you are working with. Madoff was therefore a well-respected financier through his multimillion-dollar foundation. He engaged…...
Bernie MadoffEconomic DevelopmentFraud
Bernie Madoff’s greed
A Ponzi scheme in its purest form can be defined as a fraudulent scam that promises investors high returns with little risk. (Merriam-Webster,’2018) Ponzi schemes naturally require an endless supply of willing participants investing money for a specific purpose. To encourage the thought of success for investors, they are promised things that are highly unlikely to be acquired. However, with so much falsified information and little truth, it is easy to be manipulated. There is a sequence of law and…...
Bernie Madoff
An Exploration of Lucrative Hoaxes
Throughout the annals of the history of man, there has been a myriad of hoaxes. From practical jokes to Ponzi schemes the art of the bamboozle has proven to be an integral part of human nature. Merriam Webster defines a hoax as 'an act intended to trick or dupe' and 'something accepted or established by fraud or fabrication.' (Merriam Webster Dictionary) The tale of fraud is as old as history itself. As the dawn of commerce brought on the personal…...
Bernie Madoff
Madoff’s Deception
During the early 2000s, Bernie Madoff disguised himself as one of the most reliable and successful stock investors in the industry. For years, Madoff served in high-level positions in business and the stock industry, creating a name for himself. When people had the chance to invest with him, they would often jump on the opportunity because of his good reputation, and the reported returns he would bring his investors. In reality, Madoff would take investors’ money and place it in…...
Bernie Madoff
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