Madoff: A Scam Across Half The World

Fraud prevention guide: Madoff fraud case for 3 weeks, the fraudulent blacklist continues to expand, from Hollywood to the sports industry to Wall Street, from investment companies to banking, insurance and charitable industries, from the United States to Europe, to the other side of the ocean, Japan and South Korea, were implicated in the half of the earth.

65, French fund manager Thierry Dravilechet, the richest woman in the world and Liliana Bedangourt, the successor of L'OREAL group, became the latest victim.

The trial procedure has speeded up the Madoff fraud case for 3 weeks. The fraud blacklist has been expanding from Hollywood to the sports industry to Wall Street, from investment companies to banking, insurance and charitable industries, from the US mainland to the European continent and to the other side of Japan and South Korea.

In December 23, 2008, the 65 year old French fund manager Thierry Dravilechet, the richest woman in the world and Liliana Bedangourt, the successor of L'OREAL group, became the latest victim.

Della Ville Chet Hussein invested heavily in hedge funds set up by Madoff and killed himself in an office in New York.

He was one of the founders of Access international consultants.

In the euro area of about 2 billion euros, 1 billion 500 million euros were invested in the fund set up by Madoff.

"He felt robbed," a customer recalled when della Ville Chet knew he was being cheated. "He said he had to fight for his clients and himself."

Della Ville Chet finally fulfilled his promise in this way.

"I am the stupidest fool on the surface of the earth, but sadly, I lost not only my life's savings, but also my dreams."

Agam, the famous screenwriter of Hollywood, who has the script of "the story of Eric Ross", "the Horse Whisperer", "the insider" and "boxing Ali", said after he learned that he had been deceived.

In the past ten years, he has entrusted his funds to Madoff, who has lost a lot of money, but he did not want to disclose specific figures to the outside world.

In addition, Steven Spielberg, the famous director of Hollywood and CEO of DreamWorks Animation Company Jeffrey Katzenberg, as well as Eli Wiesel, the winner of the Nobel Peace Prize in 1986, are all celebrities.

International Olympic Committee also failed to stay in the scam. In December 22nd, Richard, chairman of the Finance Committee of International Olympic Committee, admitted that the loss of International Olympic Committee due to the Madoff case might be $4 million 800 thousand.

The International Olympic Committee's funds did not directly enter the Madoff fund, but had been linked to Madoff through the pfer of other funds, so $4 million 800 thousand was the upper limit.

The charitable fund, which once earned unlimited trust for Madoff, lost even more in this fraud case.

Karl Shapiro, a 95 year old well-known philanthropist and clothing entrepreneur, is likely to be the biggest individual investor.

Shapiro's public welfare fund has invested $145 million in Madoff's fund, and other members of the Shapiro family have handed over another $400 million to Madoff.

Madoff, who himself was a Jew, did not give up powerful Jewish charity in the fraudulent process of "eating all kinds of grass".

The joint Jewish conference in New York announced that it was preparing to close the Losangeles office because of the failure of Madoff's investment.

These are just a drop in the bucket of Madoff's "50 billion dollar scam".

As of 24 days, the US Asset Management Co Fairfield Greenwich group, the US Kingate Asset Management Co and the US hedge fund company Tremont group respectively ranked the top three of the Madoff scam victims list by exposing 7 billion 500 million, 3 billion 500 million and 3 billion 300 million US dollars respectively.

Although Madoff himself personally recognized the amount of $50 billion, but the bottom of this black hole is still bottomless.

A simple deceitful trick by a farmer is the first weight of Madoff's cheating.

"Monthly growth of 1% to 2%, ten years, no matter whether someone else is crying or annoying, you can smile."

How can such a beautiful scene not make people heartbeat?

But for most of Madoff's "rational" minds, this is not enough to impress each other completely. Investing in risk is a matter of knowing for them.

At the moment, the second round of bargaining will be caught up.

As a former chairman of NASDAQ and director of many American companies, Madoff has made good use of his respected professional identity.

An internal message from Madoff's mouth has resisted countless irrefutable evidence.

The Losangeles times pointed out sharply that Madoff's fraud was just another game of the smartest people in the room.

In a room full of smart people, Madoff arranged a dense smokescreen of his own surroundings to beautify it as a great financial innovation.

With the smartest person in the room, he refuses to explain all doubts, and carries himself on the altar with his majesty.

If the two chips are not enough to capture the investors, the third fatal chips will shut everyone down when they appear. That is a generous return.

And all returns are "wool on sheep" - the funds invested by subsequent investors, as investors in the early stage of profit, endless, endless.

So closely linked to the three chips perfectly run for decades, until the request to redeem $7 billion capital investors appear, Madoff's capital chain is completely torn, can only be caught.

Friends who deceive friends and cheat friends are offline and offline. Such a pyramid pyramid scheme is the most basic greed of all people, which has made Madoff's century hoax.

Madoff may face 20 years' imprisonment. What kind of punishment has been caused by such a tragedy?

But because Madoff set up many versions of bank accounts in the process of fraud, the complexity of the case is beyond imagination. In addition to the numerous procedures of American judicial trials, the final conclusion of Madoff's case still takes a long time.

According to past practice, if the charge of fraud amounting to US $50 billion is finally established, Madoff will face 20 years' imprisonment and a fine of up to 5 million dollars.

The United States federal court will also request the US government to set up a special government reserve fund as soon as possible to protect investors who are victims of fraud.

Luis Stanton, a judge of the US District Court, said that all relevant businesses of Madoff must be liquidated according to the verdict of the bankruptcy court.

Only when the tide ebb, can you know who is swimming naked.

When the mystery of the Madoff case is dimmed, a more startling truth will emerge.