Madoff Case

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|Bernard Madoff: Scandal of the Century |

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For multitudes of corporations and indiviuals, December 11th is a day that is remembered as one of the most tragic days in history. On this day investors across the globe found out that their hard earned money was lost forever to the largest ponzi scheme ever created.

In the year 1960, a young Bernard “Bernie” Madoff began his long journey from legitimate businessman to fraudulent con artist. One year after marrying his high school sweetheart Ruth Alpern, Bernie Madoff began working for his father-in-law Saul Alpern’s accounting firm. Madoff started his investment firm with a mere $5,000 made from odd jobs and lifeguarding[1]. He started his small business as a trader of unlisted stocks, working mostly with associates of his father-in-law and Frank Avellino, Alpern’s business partner[2].

After a few years handling small time accounts, Madoff complained to his father in law Alpern that he wasnt intrested in managing such small scale accouts. Madoof expressed that he wanted to pursue bigger and more promising oppritunities. While still associated with Alpern’s...