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MADOFF’S FRAUDULENT FINANCIAL SCHEME, HIS DECADES-LONG SWINDLE, AND THE FAILURE OF OPERATIONAL RISK MANAGEMENT

MADOFF’S FRAUDULENT FINANCIAL SCHEME, HIS DECADES-LONG SWINDLE, AND THE FAILURE OF OPERATIONAL... The objective of this paper is to emphasize Madoff’s financial crimes, the implementation of Madoff’s system and the development of his scheme, and Madoff’s supposed hedge fund strategy. Hurt observes that many victims felt that Madoff was somehow responsible for the economic downturn. Clauss et al. clarify the primary reasons which allowed Madoff’s system to operate for several years. Arvedlund claims that Madoff relied on fund-raisers and feeder funds to build his client base. JEL: B26, G32 Keywords: Madoff, financial, hedge, fund, scheme, economic http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Economics, Management, and Financial Markets Addleton Academic Publishers

MADOFF’S FRAUDULENT FINANCIAL SCHEME, HIS DECADES-LONG SWINDLE, AND THE FAILURE OF OPERATIONAL RISK MANAGEMENT

Economics, Management, and Financial Markets , Volume 5 (3): 239-244 – Jan 1, 2010

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Publisher
Addleton Academic Publishers
Copyright
© 2009 Addleton Academic Publishers
ISSN
1842-3191
eISSN
1938-212X
Publisher site
See Article on Publisher Site

Abstract

The objective of this paper is to emphasize Madoff’s financial crimes, the implementation of Madoff’s system and the development of his scheme, and Madoff’s supposed hedge fund strategy. Hurt observes that many victims felt that Madoff was somehow responsible for the economic downturn. Clauss et al. clarify the primary reasons which allowed Madoff’s system to operate for several years. Arvedlund claims that Madoff relied on fund-raisers and feeder funds to build his client base. JEL: B26, G32 Keywords: Madoff, financial, hedge, fund, scheme, economic

Journal

Economics, Management, and Financial MarketsAddleton Academic Publishers

Published: Jan 1, 2010

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