Charles Ponzi Scheme Essay

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and will continue to live a life of Quixotic after the fallout of Lehman Brothers. When comparing CEO’s as a company to individuals that commit the same type of criterion offenses we can see that there is a different outcome in many cases of the same criterion offenses. An Italian man by the name of Charles Ponzi (from which the term Ponzi scheme was coined) swindled his investors out of millions by promising 50% return in 45 days of their initial investment. Ponzi amassed $15 million before being arrested and charged with mail fraud. Ponzi several years in a Canadian prison and a prison in Charleston, Massachusetts “involved in bank fraud and forgery in Montreal, arrested in June 1920, Ponzi was tried the following November in federal court and was found guilty of mail fraud and sentenced to five years in prison” (Lach, 2005). Bernie Madoff used Charles Ponzi’s blue print to accumulate his wealth. Madoff defrauded his investors of over $65bn. He preyed on the careless, the greedy and the gullible and whomever he could get to invest with his scam. His prison sentenced was effectively the rest of his life “Madoff pled guilty on March 3, 2009 to 11 criminal charges. On June 29, federal judge Denny Chin imposed the maximum sentence …show more content…
Because of the growth of women in the white-collar corporate world, researchers believed that this growth would reduce or eliminate gender difference when it comes to white-collar and corporate criminality, however, that didn’t happen “women’s participation in white-collar crime was low—less than 5 percent, the relatively high numbers of women convicted for occupational fraud like embezzlement was due partly to their jobs having a higher degree of surveillance than men’s (Steffensmeier, 2013, p.
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