How did hedge-fund managers like Bernie Madoff get away with it?
With government organizations like the S.E.C. in place, how did scammers like Bernie Madoff get away with it for so long? How can investment fraud be prevented?
“Steven F,” I like the hedge fund concept and have nothing against hedge funds per se. Having now stated that, I’d love your input as to the question regarding enforcement or regulation, please.
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about 1 year ago
Unless the Government audits them, how do they know?
about 1 year ago
He got caught because the economy collapsed, he would still be doing it if it didn’t. All of his “clients” where getting payed and nobody suspected anything. Its just like the ponzi scheme the government’s got going with social security. Money from peter to pay paul.
about 1 year ago
If the SEC were a sheriff department they would be named Barny Fife. People like Madoff are normally about 10 steps ahead of the SEC. The reason they get caught is they become too greedy and pyramid schemes eventually collapse under their own weight. He should have sold it before it caved in and after his money was safe under off-shore banks.
about 1 year ago
Hedge funds are perfectly legitimate investments. Bernie Madoff did NOT manage a hedge fund. His crime was CLAIMING to manage an investment fund that did not actually exist.