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.
Stratton Oakmont was an extremely successful business, yet through unethical business practices, the brokerage firm was forced to close in 1999. Jordan Belfort was sentenced to 22 months in jail. He lost his money and his family while struggling with a massive drug addiction & depression. Since then, Belfort has authored two best-selling autobiographies and started a business called Straight Line Mentorship Program that coach’s corporate training, sales and wealth building strategies. Jordan Belfort is inspiring because he was a ground breaking professional, a successful young entrepreneur, & he had a high level of fortitude.
Madoff defrauded thousands of investors out of billions of dollars, $65 billion to be exact. Madoff claimed to have started the business in the early 1990’s, and those charged legitimate. However, federal investigators believe that the fraud began as early as the 1970’s. If this true, by all means his family knew of the scheme, and had something to do with it. Concerns about Madoff’s business surfaced as early as 1999, when financial analyst Harry Markopolos informed the U.S. Securities and Exchange Commission that he believed it was legally and mathematically impossible to achieve the gains Madoff claimed to deliver.
Steve Jobs is the most influential person of the last 20 years because he over came great odds to get to were he is today. Steve Jobs was having conflict with the CEO and Board of Apple, "Steve Jobs resigned in September 1985, and sold all but one of his Apple shares, in disgust. He went ahead with his plan anyway, and incorporated NeXT " (Moisecot 1). After being betrayed by the company that he founded, Jobs made the best of a bad situation and started another computer company. By doing this Steve Jobs overcame great odds and took it in to his own hands ….
Bernie L Madoff, of Bernie L Madoff Investment Securities, LLC, succeeded in fooling the SEC (Securities & Exchange Commission) and gained the trust of hundreds of investors for so many years with a fraud known as the Ponzi scheme. Why did so many people trust his firm, how did he fool the SEC? What is a Ponzi scheme and how does it work so well that one man can swindle $60 billion dollars from so many people, including the likes of Steven Spielberg, Kevin Bacon, and many other famous, as well as powerful, people? Bernard L. Madoff was born in New York City on April 29, 1938 (Hinton) to Ralph and Sylvia Madoff. He grew up in Laurelton, a close Jewish community.
Plus, Andy, before entering prison, created a false identity with the help of a friend: “My friend Jim was the one who set up the false identity” (p.76). He can now use this false identity; he will not be associated to the murderer of his wife and her lover anymore; he can start his life over. Furthermore, tied to this false identity, was a bank account on which Andy had saved a big sum of money: “three hundred and seventy thousand dollars” (p.77). This money can now be used for his personal pleasure. Indeed, he moved to Zihuatanejo in Mexico, a life of dream, surrounded by the beach and the warmth of the sun.
HISTORY OF WHISTLEBLOWER (DOUGLAS DURAND) Douglas Durand is the paragon of a corporate whistleblower. Shortly after stepping in as vice president of sales at TAP Pharmaceutical Products in early 1995, he began to suspect the company was conspiring with doctors to overcharge the federal government’s Medicare program by tens of millions of dollars. But instead of trying to fix the problem, he spent seven months gathering evidence of supposed fraud. Then he quit in 1996 and filed a secret lawsuit against TAP. One motive which is if he could prove the company was dirty; he would share a nice lump of any money TAP paid back to the feds.
His family did a lot for this fraud, Bernard's son, and his brother was involved in his business, his wife did the social networking to attract celebrities to open account in his firm. Everything went smoothly until 2008, when economic recession happened, everything went down, and then Bernard Madoff was sentenced to jail. SWOT Analysis Strengths Madoff was relatively very highly qualified. He has developed understanding of the most complex financial securities. Madoff's enjoyed a leading industry standing.
Several years later, Kozlowski lobbied to the board members over a large acquisition that Fort felt was too risky. Having dollar signs in their eyes, the board sided with Kozlowski. Fort resigned as the CEO but remained on the board of directors for many years after. Kozlowski became the new CEO of Tyco, continuing their ongoing expansion and take-overs. He was rewarded by the board with an increased salary to 2.1 million and stock.
John Perkins Confessions of an Economic Hit Man Confessions of an Economic Hit Man Author: John Perkins Concise summary below Buy This Book About John Perkins: John Perkins was for many years one of the world's top economists. He worked directly with the heads of the World Bank, IMF, and other global financial institutions. He quit his work about 20 years ago because morally and ethically, he felt it was wrong to play such a key role in creating world empire at the expense of the less advantaged around the world. After being persuaded and even bribed not to write a book about his experiences, Perkins states, "When 9/11 struck, I had a change of heart." The book, Confessions of an Economic Hitman, spent many weeks on amazon.com's