The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. In December of that year, Bernie Madoff, the former NASDAQ chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate multi-billion-dollar Ponzi scheme. Required: Give a brief background to this scandal. Highlight, the structure and what caused many companies to buy into this idea. In your analysis, include the impact of this fraud on many businesses

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The Madoff investment scandal was a major case of stock and securities fraud discovered in late
2008. In December of that year, Bernie Madoff, the former NASDAQ chairman and founder of
the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth
management arm of his business was an elaborate multi-billion-dollar Ponzi scheme.
Required:
Give a brief background to this scandal. Highlight, the structure and what caused many companies
to buy into this idea. In your analysis, include the impact of this fraud on many businesses

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