Bernie Madoff’s $50 Billion Ponzi Scheme Who is Bernie Madoff The Madoff investment scandal is the Ponzi scheme that former NASDAQ chairman Bernard Madoff confessed to in 2008. On March 12‚ 2009‚ Madoff pled guilty to 11 federal crimes and admitted to operating what has been called the largest investor fraud ever committed by an individual. On June 29‚ 2009‚ he was sentenced to 150 years in prison with restitution of $170 billion. According to the original federal charges‚ Madoff said that his
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The Bernie Madoff Scandal is considered to be the largest financial and accounting fraud in American history. The details of the scandal itself are so complicated and unbelievable that it appears to be a work of non-fiction. Many have tried to gather enough evidence to make sense of what happened‚ but there was never enough evidence to prove when the fraud began. Madoff himself said that the scheme began in the late 1980s or early 1990s‚ but then again we cannot be certain of when it really started
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In 1939‚ Edwin Sutherland coined the term “White Collar Crime.” The term originally characterized white-collar criminals as those with respectability and high social status who carried out crime during “his” occupation. Today‚ the definition of white-collar crime has been expanded to include much more than “upper class criminals.” White Collar Crime can be defined as “an offense carried out by non-coercive‚ nonviolent means‚ and using or utilizing an acquired skill or technology to perpetuate
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Welcome to the age of white collar crime. A time when the words thieves and businessmen go hand in hand. White collar criminals don’t get their hands dirty in their work. They use their heads to get what they want instead of using a little muscle. These criminals are just as dangerous as the rapists and murderers. In these times‚ even the most seemingly respectable people are suspected of white collar crimes. President Clinton and the first lady Hillary Clinton have been tangled up in the Whitewater
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Jones Brendan Woods 991 303 007 October-04-12 SOCS10261G Scams Frauds Identity Theft Crimes of Deception in the Information Age - Term 1129‚ Class 75036 Earl Jones and the Ponzi Tragedy Finances affect everyone’s life and the choices they make‚ increases and decreases of money are happing all around us in all of our everyday lives. There are several ways people make their income and people are satisfied with what they have‚ so we develop ways in order to gain more income and pleasure this
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Criminology is the study of crime and criminals. This study requires a lot of research and knowledge of criminal statistics‚ sociology of law‚ victimology and the criminal behavior system. All of these examples of topics of crimes are different. Their information is based on different sources or is put together using different techniques. The most interesting towards me would be the criminal behavior system. The Criminal Behavior System is determining the nature and cause of specific crime patterns
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The text “The Great Baby Einstein Scam” was written by Mira Jacob. This text is an argumentative issue giving details supporting why parents should not buy materials‚ such as videos‚ in hopes of their babies becoming geniuses. The sole purpose of this article is to inform the public of Disney’s inconspicuous way of apologizing for their attempt at misleading parents to believe that they had developed a “Baby Einstein” video for babies‚ in whom these videos hopefully would turn your baby into little
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Every Coin Has Two Sides The atomics and nuclear was intended to solve energy shortage problems by generating electricity in 20th century; however‚ humans used to produce nuclear weapons. Additionally‚ the plastics was regarded as one of a most creative invention in 1862‚ but after centuries‚ white pollution has become a serious environmental issue. Internet‚ in the same way‚ was considered as the significant progress of information and technology revolution in human civilization. Whereas‚ today
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Have you ever imagined Bangkok without any traffic jams? Well‚ I have‚ many times. The amount of transport vehicles in Bangkok adds up to a striking 6.9 million‚ as for the rest of Thailand it comes to 23.4million in total. According to data and statistics from World Health Organization (WHO)‚ the number of traffic accidents (2012) in Bangkok and in the rest of the country is more or less the same. In Bangkok more personal cars are involved in accidents‚ while in the countryside pickups feature more
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Based on your knowledge of White Collar Crime‚ these documents and any independent sources that you deem appropriate‚ please explain what white collar crimes Madoff committed (including citing the applicable federal statutes) and describe the actions that he undertook that constituted the commissions of those crimes. Madoff and his investment firm was charged with securities fraud‚ for a multi-billion dollar Ponzi scheme. The scheme wasn’t revealed until Madoff himself confessed his crimes. The Federal
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