berniemadoff
It is very rare for a person to achieve the status of billionaire and then lose it. Although it is a rare occurrence, it is not unheard of. Usually, one expects a billionaire to be shrewd enough to protect their wealth. However, situations could get tough sometimes. Unfavorable economic scenarios, bad investments or fraud can force billionaires to file for bankruptcy. Let’s take a look at 10 billionaires who went broke. Q1 2021 hedge fund letters, conferences and more 10 Billionaires Who Went BrokeWe have referred to several sources, both online and offline, to come up with the list of 10 bill...
ValueWalk
BUTNER, N.C. – A collective moment of silence was felt across the investment community today as word spread of the passing of Bernie Madoff, unarguably the greatest Ponzi-scheme player of all time. Twitter and Facebook posts from traders and private equity firms alike offered their condolences and shared their favorite memories of the man who forged unprecedented levels of investment fraud. Many argued that the term “Ponzi-scheme” should be renamed “Madoff-Scheme” in his honor. Q1 2021 hedge fund letters, conferences and more Bernie Madoff's Crown Jewel AchievementBernie was born in Queens, Ne...
ValueWalk
On Wednesday, Bernie Madoff died of natural causes at the age of eighty-two. Madoff became infamous as the investment advisor who orchestrated the largest Ponzi scheme in history. Madoff’s scheme was revealed to authorities in 2008 after his sons Mark and Andrew turned him in. Madoff’s Ponzi scheme is currently the largest in world history and the largest financial fraud in U.S. history. Based on the accounts of Madoff’s 4,800 clients that he swindled, the fraud itself was worth $64.8 billion. Madoff’s Ponzi scheme victims included numerous celebrities such as Kevin Bacon, Kyra Sedgwick, John ...
uInterview.com
ValueWalk
The bigger the role of finance in our economies and lives, the bigger and more brazen the pyramid schemes, theft, and legal but reckless ways to separate customers from their money. The rise of digital finance means that cyberattacks and data hacks will become more prominent. But the biggest financial scandals are always inside jobs, usually unveiled when dramatic economic or financial events make it impossible to keep hiding a cheat.Q2 2020 hedge fund letters, conferences and moreThe Biggest Financial Scandals This CenturyEnron, 2001This Houston energy conglomerate was widely considered one o...
ValueWalk
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