Steven Huber
Soc 122, M-W@5:30
Movie Analysis, Event #4
5/19/2016
Documentation of Chasing Madoff
Burney Madoff was finally arrested for fraud but not before he used one of the largest Ponzi schemes to still 50 billion dollars of his investors' money. The way his Ponzi scheme was able to go on for so long was because Madoff only took a small part of the fraudulent money and made sure to always pay the biggest funders of his scheme. Also the FCC "government" was allowing him to continue scamming the people. The FCC even went as far to say that Madoff was a good, safe, and reliable money manager even though they knew he was no good. You ask why the government allowed this. Could it be because the main FCC governmental agent that looked over all fraud cases left the FCC and got married to Madoff's daughter? Wow! Madoff was so rich that he even had the government in his left pocket. If you think his funds only came from the United States then you would be wrong. Madoff is bigger in Europe than he is in America. His largest funder was from Europe, Fairfield Greenwich.
In 1991 an investment marketer named Harry Marcopolo crunched Madoff's investment numbers and was the first person to find out the truth about his shrewd ways. Even though Marcopolo had tons of evidence connecting Madoff to this Ponzi scheme the government didn't give Marcopolo the time of day. Soon as Marcopolo was considered a whistleblower he had to completely change the way he lived his life. Since people were out to get his family and him he had to take special measures to protect them and himself. The first measure he had taken was to learn how to fire a gun, secondly he learned how to fight, and lastly went as far as to check his car daily for bombs. Marcopolo kept after Madoff for a whole decade before Madoff was finally caught but the sad thing was that Marcopolo had nothing to do with catching him. In 2008 the stock market crashed and this is what actually caused the demise of Burney Madoff.
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