Bernard Madoff Essay

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Bernard Madoff was a man who was trusted by numerous investors to guarantee large profits if they allowed him to handle their investments (Ferrell, Fraedrich, & Ferrell, 2013). There were problems with his investment strategy. He was operating a Ponzi scheme in which he needed a healthy flow of new investors to provide him money on a regular basis, so he could use a portion of that money to continue to pay his other investors. But like most Ponzi schemes, his scheme reached a conclusion at the end of 2008, when his plan finally surfaced (Ferrell, et al, 2013). Bernard Madoff’s investment career began when he traditionally bought and sold shares that were not named in the New York Stock Exchange in 1960 (Ferrell, et al, 2013). By the
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