Frauds are reported in
local and national newspapers on an almost daily basis. Please consider several
resources, and research any notable fraud case to address the topics noted
below.
Then, please write an
analysis (2,000â3,500 words) that analyzes this fraud in relation to the course
material.
In your paper, you
should
describe and analyze how the fraud was executed;
identify and briefly discuss the role of the parties
that were involved as perpetrators, accomplices, victims, tipsters,
observers, and so forth (preferably in a chart or illustration) [include
Jeffry Picower];
assess the motives (or possible motives, if not
reported) of each perpetrator;
identify controls that might have deterred or prevented
the fraud from occurring;
discuss any involvement of the SEC;
document how the fraud was discovered and investigated,
including what should have been identified as red flags;
discuss the resolution of this case; and
cite and reference any articles, other texts, journals,
websites, or so forth that you used as a source for the facts in your
paper. NOTE: Avoid Wikipedia, because it is not recognized as a credible,
authoritative source.
Grading Rubrics
Category
Points
%
Description
First Draft or First Deliverable
25
15%
This consists of two paragraphs providing a
short description of the fraud you choose as the subject of your Research
Project.
Documentation and Formatting
10
6%
Paper should follow designated guidelines.
Citations and references are used appropriately.
Organization and Cohesiveness
10
6%
Structure of the answers is clear and
easy to follow.
Editing
10
6%
Grammar and spelling is correct. Sentence
structure is appropriate.
Content
115
67%
Content is comprehensive and accurate. Major
points are adequately stated and address course concepts. Content and purpose
of the answers is clear.
Total
170
100
A quality paper will meet or exceed all of the
above requirements.
Description
of Fraud â Bernie Madoff
Bernie Madoff grew up in New York
City. While growing up in New York there was one thing on his mind that was a
driving force behind what he did and that was his desire to be rich. Bernie decided
that Wall Street was where he needed to be to make the kind of money he wanted.
After completing college in 1960, he began to work his way into the tight group
of people that he believed ran Wall Street. He did this by creating his own brokerage
firm, Madoff Securities
Bernie Madoff was able to pull off
one of the largest and longest running Ponzi schemes in history. Bernie Madoff
was awealthy, prominent, industry
insider, who perpetrated his scheme on unsuspecting investors beginning in
1992. Between 1992 and 2008 – Affordable Custom Essay Writing Service | Write My Essay from Pro Writers the SEC received six complaints against Bernie Madoff
and his company and did investigate him. Each time Bernie Madoff somehow passed
the investigations and proceeded with his scheme. It was not until 2008 – Affordable Custom Essay Writing Service | Write My Essay from Pro Writers when he
could no longer keep up with the fraud because of the down turn in the economy
he was forced to confess. (.com/2014: 2024 – Essay Writing Service. Custom Essay Services Cheap/09/05/the-sec-and-madoff-the-need-for-authentic-leadership-in-regulatory-agencies/#_ENREF_10″ title=”U.S. Securities and Exchange Commission Office of Investigation, 2009 #7065″>U.S. Securities and Exchange Commission
Office of Investigation, 2009).
After
the public display of the SECâs failure to discover the Ponzi scheme by Madoff,
despite the six complaints, the SEC conducted an internal investigation to try
and determine why they failed defect the fraud during their investigations. The
SEC report found that the investigation were no complete, lack of
communication, not enough resources and expertise, and lack of proper processes
and controls. Additionally, the report found that there were no impropriety in
their handling of the cases and no attempt by senior officials to influence the
investigation. However, it was found that SECâs examination of Bernie Madoffâs
company was done with too much caution because of who he was and his status in the
investment world.
Reference:
Bernard Madoff. (2015 – Research Paper Writing Help Service). The Biography.com
website. Retrieved Mar 12, 2015 – Research Paper Writing Help Service, from .biography.com/people/bernard-madoff-466366″>https://essays.homeworkacetutors.com/write-my-essay/biography.com/people/bernard-madoff-466366
Rjrock. (2014: 2024 – Essay Writing Service. Custom Essay Services Cheap, September 5). The SEC and Madoff: The Need for
Authentic Leadership in Regulatory
Agencies. Retrieved March 12, 2015 – Research Paper Writing Help Service, from .com/2014: 2024 – Essay Writing Service. Custom Essay Services Cheap/09/05/the-sec-and-madoff-the-need-for-authentic-%09leadership-in-regulatory-agencies/#_ENREF_10″>http://journey24pointoh.com/2014: 2024 – Essay Writing Service. Custom Essay Services Cheap/09/05/the-sec-and-madoff-the-need-for-authentic- leadership-in-regulatory-agencies/#_ENREF_10
