- Securities fraud : Madoff was arrested by the Federal Bureau of Investigation (FBI) on December 11, 2008, on a criminal charge of securities fraud. Fraud occurs when a wrongdoer deceives another person out of money, property, or something else of value. Four elements are required to find a fraud: 1- The wrongdoer made a false representation of material fact. Madoff used Ponzi Schemes which is a fraudulent investment operation that pays returns to investors from their own money or money paid by subsequent investors rather than from profit. The Ponzi scheme usually offers abnormally high short-term returns in order to entice new investors.
Madoff’s niece became a rules compliance lawyer for the trading division of the company. In December of 2008, Madoff announced to his sons that he would be giving out several million dollars in bonuses. His sons inquired as to where the money was coming from. Madoff admitted to his sons that one branch of Madoff Securities was an elaborate Ponzi scheme. His sons turned him in and he was arrested the next day.
Perjury is known as lying under oath. It is the deliberate, willful giving of false, misleading or incomplete testimony under oath. Mr. Madoff, who is allegedly lost $50 billion in investor money in histories largest documented Ponzi scheme, He plead guilty for stealing vast sums of dollars from individuals and organizations, some of them charitable, by taking their money and pretending to invest it in the stock market, when in actuality he used the money for his own selfish purposes. 1. Name three types of parties who were impacted by the actions of Mr. Madoff and describe how they were impacted.
The police searched his house and actually found $14,000 in ransom money, since the serial numbers of the bills matched with the ones from the ransom, providing a bit of evidence that he was guilty (Aaseng 17). Hauptmann already had a criminal record, as he was arrested and spent 3 years in prison for various crimes and felonies like armed robbery in Germany, which was where he was born (Newton 220.) Not long afterwards, It was discovered that Hauptmann had used a plank form his attic for use part of the ladder used to break in (Aaseng 18). Then the police got some handwriting experts to help out, “Later, his (Bruno Hauptmann) handwriting was compared with that of the ransom notes. It matched.” (Barclay 2) Considering how all this seemed to point in Hauptmann’s direction, it was no surprise that the police believed that this guy really was the kidnapper.
By: Keyoina Hill November 29, 2011 Central Connecticut State University CRM 478-02 In the 20th Century, Bernie Madoff would be considered as one of the most deceitful criminals alive. His story made international and national headlines. It's estimated he took his investors for a cool $65 billion over the course of nearly two decades, which affected many of his clients, destroyed families lives and their savings, as well as betrayal to his own family. The scheme wasn't revealed until Madoff himself confessed his crimes; even with that being said he still doesn’t take full responsibility for his actions. Madoff himself later said he was "astonished" that the SEC failed to catch him.
The Three (3) Most Important Lessons America Learned From the Watergate Scandal “What is morally wrong can never be politically right” (Zeifman 210). This was said by President Abraham Lincoln and can be applied to many aspects of our American culture, most notably the controversial Watergate Affair. On June 17, 1972, five men attempting to break into and wiretap the Democratic National Committee offices located in the Watergate complex were apprehended by the police. These five gentlemen along with two other accomplices were tried and convicted in January 1973. These seven men were either directly or indirectly employees of President Nixon’s re-election committee and many persons, including the trial judge, John J. Sirica, suspected a conspiracy involving higher-level government officials.
He became famous for his four-year witch-hunt for Communists in the U.S. government that affected the lives of hundreds if not thousands. McCarthy ruined many careers and lives. (Encyclopedia.com) What is meant by the term The Domino Theory and what is its importance? The domino theory was a theory during the 1950s to the 1980s that the United States Government thought
Watergate The Watergate scandal is one of the most popular political scandals to occur within the United States in the 1970’s. It is widely known as Watergate for the illegal and covert activities covered up under the Nixon administration at the Watergate office complex in Washington, D.C. It all began when the Democratic National Committee (DNC) headquarters at the Watergate office were broken into on June 17, 1972. Five men wearing business suits and surgical gloves arrested in the middle of the night with illegal bugging devices at the Democratic Party headquarters in the Watergate building in Washington, D.C. (Feldstein, 60). The burglars turned out to be part of a wide-ranging political espionage and sabotage operation run by President
p. A35). Krugman’s clearly strong liberal political views stem back to his political socialization. Krugman is the son of David and Anita Krugman and the grandson of Jewish immigrants from Brest-Litovsk (2011. The New York Times). The September 10, 2009 Wall Street Journal article, “Why are Jews Liberal?” researched and found that since 1928, the average Jewish vote for the Democrat in presidential elections has been an amazing 75 percent (2009.
The largest case of online identity theft was about Albert Gonzalez (the mastermind) and other conspirators that made off with over 130 million credit and debit card numbers from late 2006 to early 2008. They gained access to the computer networks of Heartland Payment Systems, 7-Eleven Inc., Hannaford Brothers, T.J. Maxx, and Dave & Buster’s. Gonzalez cost companies, banks, and insurers almost $200 million dollars while he lived a lavishing life and was sentenced to 20 years which made his sentence the harshest ever for computer crime in an American court because it was one of the largest cyber thefts in US history, http://graphics8.nytimes.com/packages/pdf/technology/Gonzales_Indictment.pdf is the indictment. Abraham Abdallah was a Brooklyn busboy that used the Internet to obtain access to the private finances of more than 200 of the riches people in America that were listed in Forbes magazine by skillfully using computers in a Brooklyn library. He breached the bank, brokerage, and credit card accounts of tycoons and celebrities such as CNN founder Ted Turner, George Soros, and Warren Buffet.