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What is Madoff Scandal: An Accounting Fraud Study about?

Bernie Madoff ran the largest Ponzi scheme in history, defrauding thousands of investors of $64.8 billion. As the former chairman of NASDAQ, Madoff used his reputation to convince people to invest in his highly successful hedge fund, which claimed annual returns of 12% regardless of market conditions. However, the fund was actually fraudulent. The SEC investigated Madoff multiple times based on whistleblower reports but failed to uncover the fraud. When the scheme collapsed in 2008, it was revealed that Mad

Author

Sabiha Nasir Orpa

Language

EN