arully’s thought

Bernard Madoff, a former NASDAQ chairman, has been caught because of allegedly set up a so-called Ponzi scheme, in which existing investors are paid out with money from new clients, not from actual investment returns. From Europe to Japan to home state US, everyone was stunned.

Round up:

• Bernard Madoff arrested over alleged $50 billion fraud
• Madoff millions vanish into thin air :: the key to his success in fraudulent activity is “he went to great lengths to cultivate an aura of exclusivity”
• Banks hit worldwide by US ‘fraud’
• More banks reveal exposure to Madoff scandal
• Not just super rich caught up in Madoff case
• Madoff fraud could burn those who pulled out early
• SEC staff saw Madoff as a voice of authority :: this is the biggest problem
• A story of Madoff

(Updated 081227)

• Madoff Scandal Whistleblower: Harry Markopolos
• Wall St. stock fraud prosecutions fall sharply
• Brother: Madoff suicide investor lost own money

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