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A Case Study of a Con Man: Bernie Madoff and the Timeless Lessons of History's Biggest Ponzi Scheme Diana B. Henriques; Social Research: An International Quarterly; Johns Hopkins University Press; Volume 85, Number 4, Winter 2018; pp. 745-766; 10.1353/sor.2018.0048; Article
- Diana B. Henriques
- 2018
Apr 12, 2011 · Sadly, all Madoff was doing was running a Ponzi scheme in which he would take funds from new investors, and pay dividends and redemption requests to older investors, pocketing a (large) portion for himself. These schemes fail eventually.
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Summary. Bernie Madoff is famous for operating probably the largest Ponzi scheme in history. It’s estimated that Madoff’s fraud extended for more than 20 years and ran to over $50 billion. Madoff was arrested in 2008 and eventually sentenced to 150 years in prison.
May 10, 2023 · Madoff managed perhaps the biggest Ponzi scheme in history and fraudulently appropriated greater than $18 billion from investors. This was initially reported as being up to $65 billion ( Monaghan & O’Flynn, 2012 ) but during receivership some funds were recovered while others never really existed except in Madoff’s fraudulent and overly ...
The Madoff scam was the largest documented Ponzi scheme in history, and the first truly global one. It claimed victims from Palm Beach to the Persian Gulf, from Canada to Brazil, from a teachers' pension plan in South Korea to a Catholic girls' school in St. Croix.
This article uses the biggest Ponzi Scheme in history, the Bernie Madoff scandal, as a case study to explore some characteristics of intelligence and military deception operations. The similarities between the technical aspects, the “nuts and bolts,” of Madoff’s scheme and intelligence and military operations will be highlighted.
On March 12, 2009, Madoff pleaded guilty to 11 federal crimes and admitted to operating the largest Ponzi scheme in history. [5] [6] On June 29, 2009, he was sentenced to 150 years in prison, the maximum sentence allowed, with restitution of $170 billion. He died in prison in 2021. [7]
