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The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. [1] In December of that year, Bernie Madoff, the former Nasdaq chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate multi-billion-dollar Ponzi scheme.
Peter Madoff (and Andrew Madoff, before his death) remained the targets of a tax fraud investigation by federal prosecutors, according to The Wall Street Journal. David Friehling , Bernard Madoff's tax accountant, who pleaded guilty in a related case, was reportedly assisting in the investigation.
Bernie Madoff. Participants in the Madoff investment scandal included employees of Bernard Madoff's investment firm with specific knowledge of the Ponzi scheme, a three-person accounting firm that assembled his reports, and a network of feeder funds that invested their clients' money with Madoff while collecting significant fees.
Until recently, the story of Madoff’s $68 billion fraud was told in piecemeal form, said Richard Behar — which is why the investigative journalist dedicated 15 years to researching and writing ...
As fraud investigation. ... The magnitude of the investment scheme perpetrated by Bernie Madoff is difficult to pinpoint with any precision. There are likely many investors who will never come ...
In a jailhouse interview released late Friday by H. David Kotz, the Securities & Exchange Commission's inspector-general, Madoff disses SEC investigators as bumbling bureaucrats and says he was ...
Harry M. Markopolos (born October 22, 1956) is an American former securities industry executive and a forensic accounting and financial fraud investigator.. From 1999 to 2008, Markopolos uncovered evidence that suggested that Bernie Madoff's wealth management business was a huge Ponzi scheme.
The Bernie Madoff scandal came to light over five years ago in December of 2008. The $65B ponzi scheme came crashing down and jailed Madoff -- but half a decade later, people are still feeling the ...