Bernard L. Madoff: The Largest Accounting Fraud in History

His business began in 1960 and through the hedge fund of Bernard L. Madoff Investment Securities LLC he operates the largest Ponzi scheme discovered so far. In 2008 the plan finally caught up with him. According to information sources, it is estimated that this plan will deprive investors for about 40 years. Mr. Madoff is convinced that the funds invested by investors promise high risk and low risk. Finally, Madoff dug a hole that is too big to climb.

Madoff's investment scandal was a serious case of stock and security fraud discovered at the end of 2008. In December of that year, the former Nasdaq Chairman and founder of Bernard L. Madoff Investment Security LLC, Bernard Madoff acknowledged his business administration department was a well designed Ponzi scheme. Madoff established Ballard L. Madoff Investment Securities LLC of Wall Street Company in 1960 and served as Chairman before arresting. The company hired Madoff's son Andrew and Mark as Peter's daughter Shana Madoff as regulator and compliance officer and lawyer, with Madoff's brother Peter as Chief Executive Officer and Chief Compliance Officer. Since then, Peter was sentenced to ten years imprisonment, and Mark suicide two years after his father was arrested.

According to the Wall Street Journal, Peter Madoff (and Andrew Madoff and earlier) was still subject to federal prosecutor fraud investigation. According to the report, Bernard Madoff 's tax accountant David Friehling acknowledges guilty and related investigations in support of the investigation. According to a civil lawsuit filed in October 2009, the trustee Owen Picard insisted that Peter Madoff deposited $ 32,146 in the Madoff account and had over $ 16 million, Andrew has nearly 100 to his account I entrusted. I canceled 17 million dollars at $ 10,000, Mark confirmed $ 745,482 and withdrew $ 18.1 million.