by Christian, Phil, and Alan

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Presentation transcript:

by Christian, Phil, and Alan Bernie Madoff by Christian, Phil, and Alan

Early Life -Raised by financially struggling family -Mother was a broker-dealer -Father was a plumber -Ralph had a high school sweetheart which he married later on. -Attended The university of Alabama and Hofstra.

Who is Bernie Madoff? Bernie Madoff, former stockbroker, investment advisor, financier, and developer and non-executive Chairman of NASDAQ. Founded a wall street firm called Bernard L. Madoff Investment Securities LLC in 1960 using his lifeguarding money. Managed accounts for very successful people Helped design NASDAQ former stockbroker, investment advisor, and financier. He is the former non-executive Chairman of the NASDAQ stock marke Madoff founded the Wall Street firm Bernard L. Madoff Investment Securities LLC in 196

What did he do? -Largest financial fraud in U.S. history -Stole from tens of thousands of people -Took over 18 billion from people who invested with him -Accused of securities fraud, investment advisor fraud, mail fraud, wire fraud, money laundering, false statements, perjury, making false filings with the SEC (Security and Exchange Commission), stealing from the employee benefit plan - Used a computer program to create false trades from previous dates so they would always have a profit.

Integrity of the situation -Bernie Madoff is the best example of a person having no integrity at all. -He presented himself as a great man who started a business that took off, but really everything about his business was a scam. -His kids did the right thing and turned him in.

After Effects -Son committed suicide -Wife is ruined -Lots of people lost all of their investments -Everyone hates him

Video http://investigation.discovery.com/famous-cases/videos/the-madoff-mystery-the-ponzi-scheme.htm