Running Head: BERNIE MADOFF 1
Bernie Madoff
Scott Wallace
11/12/2017
Keiser University
BERNIE MADOFF 2
Bernie Madoff is a perfect example of how unethical behavior can turn into corruption.
Madoff, a former investment and stockbroker, was formally introduced to the world as the ‘sole’
operator in the largest Ponzi scheme on record. Madoff turned his financial management
company into a colossal Ponzi scheme that swindled billions, from thousands of his investors.
According to federal investigators, Madoff’s Ponzi scheme began as early as the 1980’s and
continued to operate under sheer deception and utter lies. Madoff’s powerful presence,
narcissism, voracity and unethical behavior had him pleading guilty to eleven federal offenses,
including: wire fraud, securities fraud, money laundering, mail fraud, false statements, lying
under oath, larceny, and making false filings with the SEC (Stanwick P. & Stanwick S. 2015). In
true classic Ponzi scheme form, Madoff used funds from latter investors, to pay earnings to older
investors. He simply moved money around to give the appearance of success. This trick not only
