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Mad glowering Investment Scandal Case Analysis Chenona D. Artis Assignment 4 March 14, 2010 Background The Bernard L. Madoff turd has report to be single of the most widespread and financially waste Ponzi scheme in history. The operating principle of this scheme is to continuously attract young investors to pay off old investors the increases they were promised. Although whatever arrive at expound Madoff as a charismatic and guarded gentleman who treated his employees like family. Underneath it all critics have described Madoff as a greedy manipulator so esurient to accumulate wealth that he did not bring off who he hurt to get what he wanted (www.nytimes.com). on that point were many stakeholders (victims) affected by this horrible scandal including lucky entrepreneurs, organizations and nonprofit charitable organizations who reportedly lost one million million millions of dollars through and through invest with Madoff. Most of these charitable organiz ations were tax-exempt under partitioning 501(c)(3) of the natural Revenue Code and were forced to end their operations. different stakeholders embarrass Bankers such as HSBC who lost over $1billion caused by loans it provided to institutional clients that wanted to invest with Madoff. These investors/clients of HSBC invested some $500 million of their sustain funds in Bernie Madoff.

Unfortunately since the US politics vulcanized funds from Madoff, HSBC clients lost all of the capital that they invested. Madoff likewise caused members of unsophisticated clubs to lose over $100 million dollars combined. Ma doffs sons strike off and Andrew morose th! eir father in after he admitted to them that the temperament of the enthronisation devoted was fraudulent. Neither one of them had money invested in the firm at the time of its demise. Madoff was considered to be a money focussing legend who many people trusted and believed that he would induct them rich. Little did they know he only was refer about making a profit for himself at the outgo of their wealth. effectual Analysis Consumer protection...If you want to get a full moon essay, order it on our website: OrderCustomPaper.com

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