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Bernard Madoff and His Accomplices - Anatomy of a Con (Hardcover)
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Bernard Madoff and His Accomplices - Anatomy of a Con (Hardcover)
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This is the first detailed study of how Bernard L. Madoff and his
accomplices perpetrated a Ponzi scheme of epic proportions-what has
been referred to as the "con of the century." In December 2008,
Bernard L. Madoff was arrested for perpetrating a protracted Ponzi
scheme of inconceivably huge proportions that defrauded clients of
his securities company of nearly $20 billion-and was consequently
sentenced to 150 years in jail. How did Madoff pull this off for
years, even returning some or all of clients' money when they
asked, while in actuality was financing the lavish lifestyles of
himself, his family, and his accomplices with the stolen funds? And
why didn't anyone in the highly regulated investment industry catch
on sooner? Bernard Madoff and His Accomplices: Anatomy of a Con
examines Bernard L. Madoff's unprecedented confidence game (con
game), drawing back the curtain on what actually went on at his
investment firm, Bernard L. Madoff Investment Securities, and
exposing the day-to-day activities of his accomplices that enabled
the elaborate con to succeed for as long as it did. Through the
examination of court testimony and other court documents, the
mechanics of the con game become clear, elucidating how Madoff's
friends and employees hustled money from investors; the methods by
which false records, monthly statements to investors, and other
documents were manufactured and mass-produced; and how a multitude
of felonies and the highest levels of fraud became everyday
practices. Presents the first study of Bernard L. Madoff Investment
Securities, the organization where the fraud began, was centered,
and flourished by duping investors for at least a decade Documents
how investors who depend on and trust investment professionals can
lose money, especially given that some investment companies do not
always act in their clients' best interests and that Wall Street
regulators are often ineffective Takes readers backstage to see the
intricate details of the "theatre production" of a con game-the
playacting, performances, pretending, utilization of props, and
false representations that are required to achieve a "standing
ovation" (i.e., the total fleecing of the marks)
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