What went wrong in Bernie Madoff's company?

Expert Solution

Madoff investment scandal is one of the popular scandal in United States in which there was huge securities ponzi scheme related to the former chairman of the Nasdaq, Bernie Madoff and his fund , madoff company which admitted that the entire Asset Management of company is just a big inflated ponzi scheme.

After the great depression of 2008 madoff company was starting to report losses and these losses were highly inflated dn nature which was related to the going concern of the company as it was probably looking like that it will go bust but the manager of the company admitted that his company has already been not able to pay off with the investors who has invested their money in the fund and want redemption of their fund and he admitted that the entire investment arm of the company is big ponzi scheme ,So, it lead to entire collapse of the fund and the fund manager was sent to the jail and the public money were lost.

jeff jeffy answered 1 year ago

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