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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. (pp. 243–248)

JEL: F01, G15

Keywords: Madoff, Ponzi, scheme, financial, fraud, scam

 

LUMINITA IONESCU
Spiru Haret University
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