Bernie Madoff Research Paper
Madoff
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Anneke Myers
April 9, 2013
Professor Kevin Voce
Morrisville State College
One of the most well known schemer and criminal of the white collar field was Bernie Madoff. The chameleon created an impression of being a nice and caring person at work, but ironically, deep down inside he was a deranged money hungry criminal. Many people could not believe the news they were hearing after he had confessed to the crimes he committed because he was really good at hiding the true person he was. He was a master at impression management. Quoted from Diana Goldberg “He was a hero to us, the head of NASDAQ. We were proud of everything he had accomplished”. They believed in him, he gained everyone’s trust by manipulating …show more content…
It wasn’t done alone. Madoff had help from colleagues and it is even suspected that some of his family members were involved due to the fact that he brought in a lot of family members to the job over the years including his sons. His sons were actually the ones who reported him to federal authorities. Some people who were involved were Frank Avellino, Frank DiPascali, and Jeffery Picower. In order for the prosecutors to bring Madoff to court, they had to go through a series of junior employees and squeeze as much information from them to have enough supporting details and evidence to move up on the table. “Madoff had dealings with a variety of banks and hedge funds, and burned Madoff investors have tried to recoup funds from some of them. Madoff held an account at JPMorgan Chase that he used to shuffle money between offices in London and New York. In 2011, two Madoff investors sued the bank for $19 million, claiming they aided in his fraud, according to CNN. At the time, a JPMorgan spokesman dismissed the lawsuit as meritless.”
[pic] [pic]
Anneke Myers
April 9, 2013
Professor Kevin Voce
Morrisville State College
One of the most well known schemer and criminal of the white collar field was Bernie Madoff. The chameleon created an impression of being a nice and caring person at work, but ironically, deep down inside he was a deranged money hungry criminal. Many people could not believe the news they were hearing after he had confessed to the crimes he committed because he was really good at hiding the true person he was. He was a master at impression management. Quoted from Diana Goldberg “He was a hero to us, the head of NASDAQ. We were proud of everything he had accomplished”. They believed in him, he gained everyone’s trust by manipulating …show more content…
It wasn’t done alone. Madoff had help from colleagues and it is even suspected that some of his family members were involved due to the fact that he brought in a lot of family members to the job over the years including his sons. His sons were actually the ones who reported him to federal authorities. Some people who were involved were Frank Avellino, Frank DiPascali, and Jeffery Picower. In order for the prosecutors to bring Madoff to court, they had to go through a series of junior employees and squeeze as much information from them to have enough supporting details and evidence to move up on the table. “Madoff had dealings with a variety of banks and hedge funds, and burned Madoff investors have tried to recoup funds from some of them. Madoff held an account at JPMorgan Chase that he used to shuffle money between offices in London and New York. In 2011, two Madoff investors sued the bank for $19 million, claiming they aided in his fraud, according to CNN. At the time, a JPMorgan spokesman dismissed the lawsuit as meritless.”