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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.
Woody Allen's 2013 film Blue Jasmine portrays a fictional couple involved in a similar scandal. Allen said that the Madoff scandal was the inspiration for the film. [203] In God We Trust (2013), a documentary about Eleanor Squillari, Madoff's secretary for 25 years and her search for the truth about the fraud (The Halcyon Company). [204]
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.
The recovery of funds from the Madoff investment scandal has been underway since the scandal broke in December 2008. That month, recovery trustee Irving Picard received funds from the Bank of New York account where Bernard Madoff held new investments into his Ponzi scheme. As it has been concluded that no legitimate investments were made on the ...
Investors in Bernard L. Madoff Investment Securities LLC lost billions of dollars in the Madoff investment scandal, a Ponzi scheme fraud conducted by Bernard Madoff.The amount missing from client accounts, over two thirds of which were fabricated gains, was almost $65 billion. [1]
René-Thierry Magon de la Villehuchet (23 April 1943 – 22 December 2008) was a French aristocrat, money manager, and businessman.He was one of the founders of Access International Advisors (AIA Group), a company caught and subsumed in the Madoff investment scandal in 2008.
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.
Daniel Bonventre (born c. 1944) is one of five former Madoff employees charged in the Madoff investment scandal. [1] [2]He had worked as one-time company director of operations and as an accountant for Madoff since the 1960s.