What will you learn from this book
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Madoff Ponzi Scheme: Details the investigation carried out by Markopolos into Bernard Madoff's investment firm, revealing it to be the largest Ponzi scheme in history.
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Whistleblower Challenges: Explores the challenges faced by Markopolos in getting authorities and regulatory bodies to take his warnings about Madoff seriously.
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Persistence: Highlights Markopolos' persistence in uncovering and attempting to expose the fraudulent scheme, despite facing skepticism and resistance.
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Ineffective Regulation: Criticizes the regulatory failure of the SEC (Securities and Exchange Commission) for not taking appropriate action despite receiving multiple warnings about Madoff's operations.
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Ethical Concerns: Raises ethical concerns about the lack of oversight and due diligence that allowed Madoff's scheme to persist for so long.
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Financial Industry Integrity: Questions the integrity of the financial industry and the ability of regulators to protect investors from fraudulent schemes.
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Lessons in Due Diligence: Emphasizes the importance of due diligence and skepticism in the investment industry, urging investors to be vigilant.
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Impact on Investors: Discusses the devastating impact Madoff's scheme had on investors who lost their life savings.
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Regulatory Reforms: Advocates for regulatory reforms and increased oversight to prevent similar financial fraud in the future.
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Whistleblower Protection: Raises awareness of the need for better protection and support for whistleblowers who expose financial wrongdoing.
| Language | English |
|---|---|
| ISBN-10 | 9788126527724 |
| No of pages | 354 |
| Font Size | Medium |
| Book Publisher | Wiley India Pvt Ltd |
| Published Date | 27 Aug 2010 |
About Author
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This is the story of Harry Markopoulos, the whistleblower who discovered that crimes against investors were being committed by Bernie Madoff, whose Ponzi Scheme would ultimately become the biggest and longest-running financial investment fraud in history. Madoff's impact, both financially on individuals and institutions, continues to send shockwaves across the financial system and represents a major failure to investigate by the Securities and Exchange Commission (SEC), the nation's top market copy.
The unraveling of the Madoff investment fund will go down as the crowning story of an era that has ended with the most troubled, turbulent and uncertain global economy. How Madoff was enabled, by investors and fiduciaries alike, is nothing short of breath-taking and spell-binding. But how Madoff was allowed to operate by the SEC, despite repeated written and verbal warnings by whistleblower Harry Markopoulos, is something that can only be told Harry himself and his team of financial sleuths.