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THE MECHANISM OF THE LARGEST PONZI SCHEME IN HISTORY AND ITS WIDE-FELT IMPACT ON THE GLOBAL FINANCIAL ARCHITECTURE

THE MECHANISM OF THE LARGEST PONZI SCHEME IN HISTORY AND ITS WIDE-FELT IMPACT ON THE GLOBAL... We shall focus here on the collapse of Madoff’s massive scam, the specifics of the Madoff case, and Madoff’s fraudulent hedge fund. Furman and DeJoy note that Ponzi schemes delude investors into believing that their money is being invested in high yield vehicles, and that their gains are derived from gains on investments. Francis and Prevosto examine the role of data in the global financial crisis and in high-profile financial frauds. Markopolos claims that if Madoff was using a split-strike strategy, his reported returns could not come from the performance of the market. Arvedlund states that Madoff served as the custodian of his clients’ assets. JEL: F01, G15 Keywords: Madoff, Ponzi, scheme, financial, fraud, scam http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Economics, Management, and Financial Markets Addleton Academic Publishers

THE MECHANISM OF THE LARGEST PONZI SCHEME IN HISTORY AND ITS WIDE-FELT IMPACT ON THE GLOBAL FINANCIAL ARCHITECTURE

Economics, Management, and Financial Markets , Volume 5 (3): 245-250 – 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

We shall focus here on the collapse of Madoff’s massive scam, the specifics of the Madoff case, and Madoff’s fraudulent hedge fund. Furman and DeJoy note that Ponzi schemes delude investors into believing that their money is being invested in high yield vehicles, and that their gains are derived from gains on investments. Francis and Prevosto examine the role of data in the global financial crisis and in high-profile financial frauds. Markopolos claims that if Madoff was using a split-strike strategy, his reported returns could not come from the performance of the market. Arvedlund states that Madoff served as the custodian of his clients’ assets. JEL: F01, G15 Keywords: Madoff, Ponzi, scheme, financial, fraud, scam

Journal

Economics, Management, and Financial MarketsAddleton Academic Publishers

Published: Jan 1, 2010

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