Bernard Madoffs securities fraud

Bernard Madoffs securities fraud -Introduction: Bernard Madoff is a businessman and former issue of the NASDAQ stock exchange. Madoff started his theater in 1960 as a cent stock trader with $5,000 (about $35,000 in 2008 dollars), earned from working as a lifeguard and sprinkler installer. Initially, the firm made markets via the National quality federal agencys Pink Sheets. In order to compete with firms that were members of the New York commonplace Exchange trading on the stock exchanges floor, his firm began make use of innovative computer information technology to disseminate its quotes. after(prenominal) a trial run, the technology that the firm helped develop became the NASDAQ . At unrivalled point, Madoff Securities was the largest buying- and-selling market maker at the NASDAQ. Madoffs firm, which is in the emergence of liquidation, was bingle of the top market maker businesses on argue track (the sixth-largest in 2008),often functioning as a third-mark et supplier that bypassed specialiser firms and directly executed orders over the counter from sell brokers. The firm also had an investing management and advisory fraction that is this instant the focus of the fraud investigation. - Securities fraud : Madoff was arrested by the federal Bureau of Investigation (FBI) on December 11, 2008, on a evil charge of securities fraud.

Fraud occurs when a wrongdoer deceives other individual out of coin, property, or something else of value. Four elements are needful to maintain a fraud: 1-The wrongdoer made a insincere representation of material fact . Madoff used Ponzi Schemes which is a dis! honest investment operation that pays returns to investors from their own funds or money salaried by subsequent investors rather than from profit. The Ponzi scheme usually offers abnormally high short-term returns in order to seduce freshly investors. The perpetuation of the high returns that a Ponzi scheme advertises and pays requires an ever-increasing blend of money from investors in order to keep the...If you want to astound a full essay, order it on our website: BestEssayCheap.com

If you want to get a full essay, visit our page: cheap essay