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Summary of Bernie Madoff

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Summarize Bernie Madoff's career and Ponzi scheme.

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https://brainmass.com/business/fraud-earnings-management/summary-of-bernie-madoff-585297

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Bernie Madoff began his career in the financial services industry by being a successful and reputable investor for his clients. Unfortunately, the end of his career would know him for how he fleeced his clients and perpetuated perhaps the largest Ponzi scheme in the history of American finance.

Bernie Madoff operated what could be seen as a "family" business. His brother and two sons each operated a different sector of his conglomerate. When Madoff began his career, his business operations were legal. It was not until the 1990's that Madoff's investment firm began the Ponzi scheme, which ultimately led to his downfall. Madoff himself served on multiple charitable boards and had several stints as head of NASDAQ. Madoff appeared to be so successful, that his clients were received only on an invitation ...

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http://money.cnn.com/2009/04/24/news/newsmakers/madoff.fortune/index.htm

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