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Madoff Victims
New York Times has compiled a list of Madoff victims and their estimated exposure. The effects looked far and wide with victims ranging from financial firms to charitable organisations. Names more familiar to us include Great Eastern with a $44 million exposure and HSBC with a whopping $1 billion exposure. The list can be viewed […]
Bernard Madoff – A Ponzi Scam of Epic Proportions
Bernard Madoff has probably made history by operating the biggest ponzi scheme in the world. Before we look at his case, let us revisit what a ponzi scam is. A ponzi is a fake investment scheme that promises investors x% returns. The actual investment does not generate returns anywhere near that which is promised. Instead, […]