A financial insider tells how and why it happened: how one well-respected Wall Streeter stole so much money from so many sophisticated people for so long.

Description

The stranger-than-fiction story of how one well-respected money manager built a business empire over decades by means of a classic Ponzi scheme. (This is a fraudulent investment strategy which pays returns to early investors with money put in later by subsequent investors.) When in late 2008 Bernard Madoff revealed the scam to his devoted investors, to his trusting colleagues, to his sons, and to the world, he admitted he had bilked wealthy individuals, charities, hedge funds, mutual funds, synagogues, colleges, and other institutions out of $50 billion. To date, this is the largest theft ever to take place on Wall Street. This revealing account shows Madoff's climb to success and explains the inner workings of his scheme—as well as its incredible aftermath.

Extended Copyright Information

Copyright 2009 by Peter Sander. All rights reserved.

No part of this book may be reproduced or transmitted in any form by any means, electronic or mechanical, including photocopying and recording, or by any information storage and retrieval system, except as may be expressly permitted in writing by the publisher. Requests for permission should be sent to skirt!, Attn: Rights and Permissions Department, P.O. Box 480, Guilford, Connecticut 06437.

About the Author

Peter Sander is a professional writer, researcher, and consultant in the fields of personal finance, general business and location reference. His 18 book titles include The 250 Personal Finance Questions Everybody Should Ask, Green Christmas, The Pocket Idiot’s Guide to Living on a Budget, Value Investing for Dummies, Everything Personal Finance and the Frommer’s® Cities Ranked & Rated series. He has developed over 200 personal finance columns for MarketWatch and TheStreet.com, and has appeared on NBC Today, CNNfn, Fox News, and a variety of radio and print media. Education includes an MBA from Indiana University and completion of Certified Financial Planner (CFP®) education and testing requirements. Experience includes 20 years as a marketing program manager for a Fortune 50 technology firm and over 40 years of active investing. He lives with his wife Jennifer Basye Sander and two sons in Granite Bay, CA.

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Opening Lines (Experimental)

_On December 15, 2008, the Honorable Louis L. Stanton, a Federal Judge in the United States District Court for the Southern District of New York, appointed Irving Picard as Trustee for the liquidation of Bernard L. Madoff Investments Securities LLC (“BMIS”) pursuant to the Securities Investor ...

Copyright

Copyright 2009 by Peter Sander.

All Rights Reserved.