18 March 2009

Markopolos, Demolisher Scandals Madoff

Bernard Madoff who are 70 years of age, the fraud on the funds investment of 150 billion U.S. dollars, imprisonment for up to 150 years. This is the biggest fraud throughout the history of the world. Madoff is charged with making fraudulent Ponzi scheme involving money belonging to a number of company pension funds, foundations of social, actress/actors, school funds, and other.

Madoff coax a number of institutions and wealthy people of the world to infuse funds in the company, Bernard L Madoff Investment Securities LLC. Customers are given a high bid even though fortunately only expressed in the routine reports. Benefits are not paid in whole, and even customers in excitative not to withdrawal of funds, but investing in long-term investment. The Company seems to report funds that the investment have planted in the Wall Street stock exchange. Capital Market Board of Supervisors U.S. (SEC) said, Madoff do with fraud forge headers letters SEC.

Is Harry Markopolos, an investment experts said already know the lie Madoff behind the management of investment funds belonging to 13,500 customers, including banks such as UBS caliber of the world (Switzerland), Great Eastern (Singapore insurance), actor/actress Hollywood, film director the top prize Oscar, Steven Spielberg, Larry King to CNN's .

The period 1991-2004, Markopolos working in the Rampart Investment Management Co. Since its establishment early in the decade of 1990s, the news spread Madoff profit company. The boss asks for Markopolos learn how to achieve happiness Madoff high. Who knows could be imitated.

Assisted mathematician named diBartolomeo And, do Markopolos simulation. He is also talking with various experts, investment bankers, and visit to Switzerland. In conclusion, no one was able to achieve investment broker average 0.40 percent of profits above the London Interbank offered Rate (LIBOR). This refers to the interest rate on the loan antarbank London money market, which is empirical is always below 10 percent per year.

In 2005, 2007, until 2008 Markopolos have to report to the SEC, including the sharing of information bonus Merrill Lynch. However, SEC did not care. In the last 10 years he never tired to report fraud to the SEC when Madoff, led by Harvey Pitt, the descendants of Jews, the period 2001-2003. Complaints not heard, nor by Bill Donaldson (Chairman of the SEC, 2003 - 2005), not even by Christopher Cox. And in the era of President Barack Obama and the SEC under Mary Schapiro, giving fresh wind to the "whistle blower", including Markopolos. And finally the report, entitled The World's Largest Hedge Fund Fraud get a response, and able to unload a fraud conducted by Bernard Madoff.

For his courage, the site www.boston.com gives the title to Markopolos as heroes. Boston Security Analyst Societty, February 11, indue Markopolos silver medal on his courage. SEC prosecutor and prosecutors in New York claims to impose ago Madoff. Now Markopolos become stars. U.S. and residents grateful to him.

sumber: boston.com


B S K said...

wow that guy will die in the prison :D