Bernard Madoff 2

8/7/2019 Bernard Madoff 2

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Bernard Lawrence "Bernie" Madoffis an ENTRUPENUR,incarcerated American felon, former stock broker, investment advisor,non-executive chairman of the NASDAQ stock market, and the admittedoperator of what has been described as the largest Ponzi scheme in

history.


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Early LifeEarly Life

Bernard was born on April 29,1938 in Queens, NewYork.

He bounced around colleges from Alabama

University to Law school in Brooklyn. By the time he finished his college years he had a

Bachelors Degree in Science.


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Early LifeEarly Life

In 1959, Madoff married Ruth Alpern

The lovey couple shown here at a lavish party


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Personal LifePersonal Life

Bernard Madoff Also know as Bernie and BigDogg was quite the party goer and philanthropist.

Big Dogg shown here taken it easy at

a New Years party.

Bernie and Ruth shown here at a

Charity party.


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Bernard Madoff Launches Bernard L. MadoffBernard Madoff Launches Bernard L. Madoff

SecuritiesSecurities

1960s; After graduating from Hofstra College -- and one

year after marrying his high school sweetheartRuth Alpern -- Madoff starts his business with$5,000 saved from odd jobs, includinglifeguarding and sprinkler installations. He

works out of Ruth's father's accounting firm inmidtown Manhattan.

His plan is to make money as a market maker --matching buyers and sellers who want to tradesmaller stocks that aren't listed on the bigexchanges.


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Bernard Madoff Begins WorkBernard Madoff Begins Work

as Investment Advisoras Investment Advisor

1960s; His business grew with the assistance ofhis father-in-law, accountant Saul Alpern, whoreferred a circle of friends and their families.

Initially, the firm made markets (quoted bid andask prices) via the National Quotation Bureau'sPink Sheets.

This took time to do since it was paper work andhad to be sent in. Madoff needed something tokeep up with the larger companies


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Stock Trading ContinuedStock Trading Continued1980s & 1990s

In the 1980s, Madoff's market-maker divisiontraded up to 5% of the total volume made on theNew York Stock Exchange. Madoff was "the first

prominent practitioner The Madoff family has long-standing, high-level

ties to the Securities Industry and FinancialMarkets Association (SIFMA), the primary

securities industry organization. Bernard Madoffsat on the Board of Directors of the SecuritiesIndustry Association


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Bernard L. Madoff InvestmentBernard L. Madoff Investment

Securities LLCSecurities LLC

Bernard L. Madoff Investment Securities LLCoperates as a securities broker/dealer in theUnited States and internationally. It provides

executions for broker-dealers, banks, andfinancial institutions.

This is the company he used to run his Ponzischeme.


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HowHe Made MillionsHowHe Made Millions

Bernard Madoff explained hispurported strategy to The Wall StreetJournal. He said the returns were

really nothing special, given that theStandard & Poors 500-stock indexgenerated an average annual returnof16.3%.


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Madoffs AchievementsMadoffs Achievements

He was able to scam his 4,800 for

65 billion dollars creating the

largest Ponzi scheme in history

major assets included securities

$45 million

cash -$17 million

half-interest in BLM Air Charter -

$12 million

2006 Leopard yacht -$7 million

jewelry -$2.6 million

Manhattan apartment -$7 millionMontauk home -$3 million

Palm Beach home -$11 million

Cap d' Antibes, France property -$1

million

furniture, household goods, and art -

$9.9 million


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Investment ScandalInvestment Scandal

When the economy took a downward spiral in 2008 the Ponzi scheme began

to unravel

Madoffs investors began pulling their money out and he could no longer afford

to pay them.

So Madoff tried to find other investors to cover the cost of those pulling out butcould not find anybody.

He told his sons to give the employees of his investment firm early bonuses and

when they asked why pay the employees before the investors he responded

Im finished

A short while after his sons reported the Ponzi scheme to the SEC and the Feds


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Current LifeCurrent Life

Bernard Madoff is nowin Bunter Federal

Correctional Complex

for the next 150 years

This is Madoffs Palm beach home in

which his wife lives.


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ConclusionConclusion

Bernard Madoff created the longest and largest

Ponzi Scheme in history.

He is a true ENTRUPENUR, businessman andphilanthropist

A good man at heart but got a bit greedy andhurt some people

On a side note Mark, one of

the sons who ratted on

Madoff killed himself 2

years later

Bernard Madoff 2

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