Bernie Ebber

  • Examining a Business Failure

    appeared to be a prescient and successful business strategy at the height of the Internet boom, WorldCom became a darling of Wall Street. In the heady days of the technology bubble Wall Street took notice of WorldCom and its then visionary CEO, Bernie Ebbers (Moberg, Romar, 2003). Acquisition after acquisition led to started to warrant a suspicion into the dealings of the WorldCom organization. The company hit rock bottom when it declared bankruptcy after its merger with MCI. This is where the proverbial

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  • Bernie Madoff Case

    Bernie Madoff Fraud Case Bernie Madoff Fraud Case Introduction One of the largest fraud cases of all times is that of the “Bernard Madoff Case.” According to Armstrong (2008), “for a number of years Madoff managed to lure billions of dollars away from huge charities, as well as wealthy individuals in both the United States and Europe by getting them to invest in his hedge fund. This he did by offering extraordinary returns to investors, until his scheme eventually reached a staggering $50

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  • Secrets, Lies and Bernie Madoff

    Secrets, Lies and Bernie Madoff It seems like they all start the same – with Secrets and Lies. With secrets and all the don’t tell anyone because it is exclusive talk - that’s the stuff that makes soap operas, scandals and the greatest ponzi schemes. Everyone likes feeling like they have a great opportunity that not everyone gets to have and that it is exclusive, especially when it feeds their financial greed. Those are the ingredients that helped Bernie Madoff build the biggest

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  • Rise and Fall Worldcom

    * From year 1999 to 2002, the company under Ebbers (CEO) and Sullivan (CFO)) used fraudulent accounting methods to cover its declining earnings by painting a false picture of financial growth and profitability to prop up the price of WorldCom’s stock. * The fraud was accomplished primarily in two ways: * Underreporting which is interconnection expenses with other telecommunication companies by capitalising these costs on the balance sheet rather than properly expensing them. * Inflating

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  • The Case of Bernie Madoff

    schemes self-destruct fairly quickly as the ability to keep attracting new investors dwindles. In the case of Bernard Madoff, he may have perpetuated the fraud for many years. Bernard L. Madoff Investment Securities LLC: ‘All in the Family’ Bernie Madoff started in the investment business by legally buying and selling stocks not listed on the New York Stock Exchange (NYSE). Started in 1960 as a sole proprietorship, he served as a ‘wholesaler’ between institutional investors. In the early

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  • Bernard Lawrence "Bernie" Madoff

    Bernard Lawrence "Bernie" Madoff 1. Describe three types of illegal business behavior alleged against Mr. Madoff and for each type of behavior, explain how the behavior is illegal or unethical in the conduct of business. In March 2009, Madoff pleaded responsible to 11 federal crimes and confessed to turning his wealth management business into a massive Ponzi scheme that cheated thousands of investors of billions of dollars. Madoff said he started the Ponzi plan in the early 1990s. However, the

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  • Bernie Madoff Case Study

    schemes self-destruct fairly quickly as the ability to keep attracting new investors dwindles. In the case of Bernard Madoff, he may have perpetuated the fraud for many years. Bernard L. Madoff Investment Securities LLC: ‘All in the Family’ Bernie Madoff started in the investment business by legally buying and selling stocks not listed on the New York Stock Exchange (NYSE). Started in 1960 as a sole proprietorship, he served as a ‘wholesaler’ between institutional investors. In the early

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  • Bernie Madoff

    Bernie Madoff: An Issue of Ethics There are many ethical issues in the world’s news today, some bigger than others, and many that get swept under the rug. One particular ethical issue is at the core of a huge story that has dominated the news for months on end and has lead to more trying times on Wall Street. The story is about Bernie Madoff and the massive effect he and his ponzi scheme had on hundreds of people who trusted him. This paper will discuss the ethical issue underlying the conflict

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  • Cooking the Books

    WorldCo­m took the telecom industry by storm when it began a frenzy of acquisitions in the 1990s. The low margins that the industry was accustomed to weren't enough for Bernie Ebbers, CEO of WorldCom. From 1995 until 2000, WorldCom purchased over sixty other telecom firms. In 1997 it bought MCI for $37 billion. WorldCom moved into Internet and data communications, handling 50 percent of all United States Internet traffic and 50 percent of all e-mails worldwide. By 2001, WorldCom owned one-third of

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  • Bernie Madoff and the Sec

    Bernie Madoff and The SEC Bernie Madoff is the face of multi-billion dollar Ponzi schemes that swindled money from investors. Madoff was a prominent member of the securities industry throughout his long career. He once served as a vice chairman of NASD, a member of its board of governors, and a chairman of its New York region. Also, he was a member of the NASDAQ Stock Market board of governors and its executive committee and served as a chairman of the trading committee. His own investment advisory

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  • Bernie Madoff Case Study

    Introduction Operated through a complex, cryptic structure Bernie Madoff, CEO of Bernie L. Madoff Investment Securities (BMIS), perpetuated the most embellished Ponzi scheme the world has ever seen. The basis of the securities fraud that took place approximately between 1991 – 2008 was influenced by Bernie Madoff’s reliance upon an unqualified staff, outdated software, organizational seclusion, a personal halo effect, and weaknesses in the regulating body. Madoff had the confidence of the public

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  • Case Study

    corporate scandals: Enron, Tyco, Global Crossing. In many ways, WorldCom is just another case of failed corporate governance, accounting abuses, and outright greed. But none of these other companies had senior executives as colorful and likable as Bernie Ebbers. A Canadian by birth, the 6 foot, 3 inch former basketball coach and Sunday School teacher emerged from the collapse of WorldCom not only broke but with a personal net worth as a negative nine-digit number.2 No palace in a gated community, no stable

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  • Bernie Film Analysis

    Film Analysis: Bernie In the movie “Bernie”, we follow the story and between a Carthage, Texas funeral director Bernie Tiede, and his co-dependent relationship with a wealthy widow, Marjorie Nugent. As “Bernie” unfolds, we see the companionship turn for the worse as Ms. Nugent’s ill-temper causes Bernie to snap – and lands her dead in her freezer. This movie brings up some questions, specifically regarding image. After analysis, the question I keep coming back to is “Was Bernie genuine and sincere

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  • Bernie Madoff Case Study

    Case Study: Bernie Madoff Eric Ranzinger Organizational Behavior – OL 500 Jascia Redwine Abstract Bernie Madoff was one of the top dogs on Wall Street for over 20 years. He managed tens of billions of dollars in client’s funds. His firm was one of the most consistent with profitable returns. When most others were reporting losses during the recession, his firm was consistently reporting net gains. Many celebrities even entrusted their money with Madoff because he was such a reputable name

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  • Bernie Madoff

    Diyonka Massey Magan Calhoun AIS 3710 22 February 2013 Bernie Madoff Case Study Throughout history, people have done unethical things dealing with money. In 2008, the man known for running a massive Ponzi scheme, known as Bernie Madoff, was arrested and charged with criminal securities fraud, and sentenced for a hundred and fifty years in prison. Bernie Madoff continued his scheme for thirty years because his company was the largest market maker on NASDAQ. He had an impressive rate of returns

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  • Paper

    when WorldCom reduced budgets on telecom services and equipment. The former CEO of WorldCom, Bernie Ebbers, submitted his resignation from his position. Being CEO, he was the leader of WorldCom, and as such, should help an employee feel supported and safe enough to discuss openly or acknowledge the problem he or she is responsible for. When he resigned from the company, it raised questions because Ebbers had about $366 million dollars in personal loans from the company. Upon the revealing of his

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  • Examining a Business Failure

    began as a small company in Jackson, MS by Bernie Ebbers and grew to become a darling of the new economy and of Wall Street. Failure within a large organization WorldCom was the number two long distance provider, in July of 2002 WorldCom file bankruptcy. This was the largest bankruptcy ever in U.S. history with a $41 billion dollar debt load, and more than $107 billion dollars in assets and equipment (Ramero and Atlas, 2002). Bernard John “Bernie” Ebbers the former CEO of WorldCom grew the company

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  • Should Have Bernard Ebbers Gone to Jail?

    Abstract Ebbers began his business career running a chain of motels in Mississippi then transformed a small discount phone business he started into the telecommunications giant WorldCom. After he resigned he was convicted of one of the largest accounting scandals in the United States that had happened while he was the CEO. As a defense Ebbers tried to say that he was unknowing and don't know about technology or finance and accounting. The jury did not buy into his theory and convicted him.

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  • Bernie Salcedo: Father of Kinaray-a Music

    The Father of Kinaray-a Music By: Salvy Jessa M. Arnaiz   Mr. Bernie Salcedo an Antiqueño from Anini-y, is known as the “Father of Kinaray-a Music” because he started the trend of composing Kinaray-a songs. Although he is a mechanical engineer, Salcedo loved to compose songs. He began writing Kinaray-a songs when he was just a teenager back in 1969. He composed Kinaray-a songs on his own and from his heart. His first composition was “Daw sa Kanami Lang” which talks about commitment through friendship

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  • Bernie Salcedo: Father of Kinaray-a Music

    The Father of Kinaray-a Music By: Salvy Jessa M. Arnaiz   Mr. Bernie Salcedo an Antiqueño from Anini-y, is known as the “Father of Kinaray-a Music” because he started the trend of composing Kinaray-a songs. Although he is a mechanical engineer, Salcedo loved to compose songs. He began writing Kinaray-a songs when he was just a teenager back in 1969. He composed Kinaray-a songs on his own and from his heart. His first composition was “Daw sa Kanami Lang” which talks about commitment through friendship

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  • Why Bernie Ebbers Is in Jail

    Canada: Why Bernie Ebbers is Serving a 25-Year Jail Sentence BYLINE: By Garfield Emerson LENGTH: 6613 words 1. Background On September 26, 2006, Bernard J. Ebbers ("Ebbers"), the former Chief Executive Officer of WorldCom, Inc. ("WorldCom"), reported to a federal prison in Oakdale, Louisiana, to begin serving his 25-year jail sentence from his conviction by a jury on nine counts of conspiracy, securities fraud and related crimes related to the bankruptcy of WorldCom in July 2002. Ebbers' appeals

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  • Bernie Ebbers

    Innocent or Guilty: Bernie Ebbers Part in the Downfall of WorldCom    The story surrounding the failure of WorldCom in the early 2000's is one that still haunts the financial market to this day. We often hear accounts of what happened within the telecom giant, but only one person could give a first-hand account of what she observed being the on the frontline and discovering one of the nation's biggest financial scandals of the last quarter century. Cynthia Cooper's account of her internal audit

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  • No Angel by Bernie Mcgill

    No Angel by Bernie McGill The short story “No Angel” is written by Bernie McGill and published in 2010. The story is about loosing someone you love, and not wanting to let go of that someone. Loosing someone you love can be really hard. On the one hand you want to let that person go, and move on, but on the other hand you would like to remember that person. Maybe you are afraid of the loneliness and acknowledging their death, which will come when letting go. When you are so consumed with grief

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  • Examining a Business Failere

    began as a small company in Jackson, MS by Bernie Ebbers and grew to become a darling of the new economy and of Wall Street. Failure within a large organization WorldCom was the number two long distance provider, in July of 2002 WorldCom file bankruptcy. This was the largest bankruptcy ever in U.S. history with a $41 billion dollar debt load, and more than $107 billion dollars in assets and equipment (Ramero and Atlas, 2002). Bernard John “Bernie” Ebbers the former CEO of WorldCom grew the company

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  • Bernie Mcgill - No Angel

    and none will outweigh the one you wish, you had back. You start talking to them in the belief, they can hear you, and sometimes you have those moments, where you can feel and see them. Exactly this situation, the main character has to deal with in Bernie McGill’s short story “No Angel” published in 2011. The main character of the story is Annie; she is a middle-aged woman, who is the only living member left of the family. The story is based around Annie talking to her father’s ghost; therefor it

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  • Bernie Madoff

    was conducted. It was a black box, run by a tiny team at a very long arm's length from the group's much bigger broker-dealer. Clients too were kept in the dark. They seemed not to mind as long as the returns remained strong, accepting that to ask Bernie to reveal his strategy would be as crass as demanding to see Coca-Cola's magic formula. Mr Madoff reinforced the message by occasionally ejecting a client who asked awkward questions. The trading business was hardly pristine either. It had been

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  • Bernie Ebbers - Worldcom Ethical Profile

    | Bernie Ebbers - WorldCom | Ethical Profile | Khristin B. Vargas | uNIVERSITY OF lA vERNE 1/22/2015 | | | Table of Contents Introduction 3 Timeline leading to Ebbers conviction: 3 Current Events 4 Perceived Motivations 5 Impacts 6 Conclusion 6 Bibliography 7 Introduction “The recent corporate accounting scandals at Enron, WorldCom, and other corporations have helped to fuel a massive loss of confidence in the integrity of American business, Bernie Ebbers

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  • No Angel - Bernie Mcgill

    because death is so hard to accept. That is the reason why people find other ways to keep the memory of a lost person, like pretending they see the dead as ghosts or angels. This paradox and theme is presented in the short story ‘’No Angel,’’ written by Bernie McGill in 2010, where our main character deals with the loneliness and grief. The short story is told in first person narrative in a limited point of view. We see the events through our main characters eyes, who’s name we are not told, which gives

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  • Ethics in the Corporate World

    biggest companies in the telecommunications industry. WorldCom began in 1983 in Clinton, Mississippi as a long distance company called Long Distance Discount Services. As a result of several mergers that began in 1985 after the board elected Bernie Ebbers as the company CEO, the company grew by leaps and bounds. On November 4, 1997, WorldCom and MCI Communications announced their $37 billion merger to form MCI WorldCom, making it the largest corporate merger of U.S. history. On October 5, 1999

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  • Business Failure

    individuals have in common, but failure is the last option anyone person or standing entity wants to face. Outside failing, but orchestrating fraudulent information just to boost and boast the status of any entity is unethical and disgraceful. Bernie Ebbers, former Chief Executive Officer (CEO) of WorldCom, did what the average business person would not do, commit fraud. WorldCom was one of the leading giants in the telecommunication arena acquiring MCI Communications en-route to global success, but

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  • Bernie Madoff

    Bernie Madoff Research Project Abronia S. Young D03202587 On March 12, 2009, Madoff pleaded guilty to 11 federal offenses, including securities fraud, wire fraud , mail fraud , money laundering, making false statements, perjury, theft from an employee benefit plan, and making false filings with the SEC. The Fraud In March 2009, Madoff admitted that since the mid-1990s he stopped trading and his returns had been fabricated. Madoff's sales pitch, an investment strategy consisted

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  • Worldcom’s Chief Executive Officer’s Failure of Responsibilities Reshaping the Business Environment

    of Responsibilities Reshaping Business Environment Bernie Ebbers’ leadership as Chief Executive Officer for WorldCom created the largest telecommunication bankruptcies and the largest bankruptcy in the corporate world. His unethical decisions to allow false financial reports to continue to be reported as inflated profits, where in reality WorldCom was losing profits while senior management was raping the money vaults. Bernie Ebbers’ action created change not only within the telecommunications

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  • Bernie Madoff Ponzi Scheme

    Abstract Bernie Madoff’s investment business began as a side business that he started to manage investments for family and friends. Through word of mouth, he began attraction outside investors and Bernard L. Madoff Investment Securities was formed. However, a few people were not fooled and saw the danger behind the facade. A few people heeded the warning sign that were evident all around Madoff. They filed reports with the SEC on several occasions but they were too inexperienced to look deeper

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  • Fraud Triangle

    Worldcom Fraud Investigation Use the Fraud Triangle and Fraud Scale to critically analyse the actions of Bernie Ebbers and Scott Sullivan during the WorldCom saga/ What does your analysis suggest? Dennis Greer’s fraud triangle is a key framework in analysing the ‘factors that cause someone to commit occupational fraud’ (ACFE-The Fraud Triangle, Association of Certified Fraud, Examiners Available from:http://www.acfe.com/fraud-triangle.aspx [January 2014]). The three elements that

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  • Bernie Madoff

    THE RISE AND FALL OF BERNIE MADOFF Bernadette Smith Business Law Professor Kopf 8/22/2010 Bernard Lawrence "Bernie" Madoff , born April 29, 1938 is an incarcerated former American stock broker, investment adviser, non-executive chairman of the NASDAQ stock market, and the admitted operator of what has been described as the largest Ponzi scheme in history. In March 2009, Madoff pleaded guilty to 11 federal crimes and admitted to turning his wealth management business into a massive Ponzi

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  • Bernie Madoff Research Project

    OST2335 COMM. IN THE WKFORCE - Fall 2012 ONLINE 412734 Assignment #3 (Chap 7)  TO: Debra Hart FROM: Alexandra Raffo DATE: October 30, 2011 SUBJECT: Chapter 5, Page 202, Expand Your Knowledge Question #1: What are five ways to attract more readers to your blog?   When creating a Blog, it is always important to have a target audience in mind. Your post and comments should have similar things in common, so users know what your blog is about. If your blog is messy, this can make users just

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  • Bernie Tiede

    P.2 Reading Guide-Math 1111 Exponents and Scientific Notation (pages 20-35) ---------------------------------------------------------------------------------------------------------1. Define the rules for exponents, with an example of each  The Product Rule when multiplying two powers that have the same base, you can add the exponents. Ex: 2^3*2^4= 2^6  The Quotient Rule this says that to divide two exponents with the same base, you keep the base and subtract the powers. Ex:a^m/a^n=

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  • Bernie Sanders Tax Plan

    Presidential candidate Bernie Sanders has identified key plans and the corresponding changes to the federal tax code that would fund these plans on his website. The revenues needed to pay for these plans would come from five primary sources: increases in (1) federal income taxes, (2) payroll taxes, (3) business income taxes, (4) estate/gift taxes, and (5) two new excise taxes. There is variance regarding the amount the plan would generate in a decade but the average is roughly $14.5 trillion. Aside

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  • Bernie Madoff Ethical Standards

    closely as possible. These lawsuits established that even nonfinancial institutions can be held liable, such as lawyers, auditors, or brokers. (15) In October 2009, the House Banking Committee drafted a bill intending to try to stop any more scams like Bernie Madoff’s Ponzi scheme. The bill included higher fiduciary standards for financial professionals, expanded SEC powers, court-based arbitration, and larger bounties for whistleblowers. The higher fiduciary standards meant that unlike the brokers just

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  • Worldcom Ppt

    corporate scandals: Enron, Tyco, Global Crossing. In many ways, WorldCom is just another case of failed corporate governance, accounting abuses, and outright greed. But none of these other companies had senior executives as colorful and likable as Bernie Ebbers. A Canadian by birth, the 6 foot, 3 inch former basketball coach and Sunday School teacher emerged from the collapse of WorldCom not only broke but with a personal net worth as a negative nine-digit number.2 No palace in a gated community, no stable

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  • Bernie

    Keenan Brown English 122 Mrs. Hemphill March. 16, 2016 U.S Election I think Bernie Sanders should be elected as president. He appears to be morally driven in terms of making America a great nation. He has consistently received less media coverage then Donald Trump and Hillary Clinton, both of whom he matches as far as the presidential polls. With the other candidates having a much greater media coverage on major

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  • Bernie Sanders

    Name AP Language and Composition 26 November 2015 Candidate, Bernie Sanders, in his presidential announcement, explains to his audience all he is willing to do as president. Sanders’ purpose is to persuade the audience to vote for him as president. He adopts a stern tone in order to appeal to the audiences needs and wants in his announcement speech. Sanders opens his speech by thanking everyone for their support. “Thank you all very much for the support that you have given me over the years

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  • Bernard Lawrence ‘Bernie” Madoff

    Bernard Lawrence ‘Bernie” Madoff Valerie Correa Prof. Masheika E. Allen     BUS 100 Mini Session 10/26/2010 1. Describe three types of illegal business behavior alleged against Mr. Madoff and for each type of behavior, explain how the behavior is illegal or unethical in the conduct of business. Mr. Madoff was found guilty of white collar crimes. Some of the crimes he

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  • Bernie Madoff

    “If It Quacks Like a Duck” Assignment 2 – Bernard Lawrence “Bernie” Madoff Business Law I March 4, 2011 Bernard Madoff Abstract Unethical behavior…sounds bad doesn’t it? But what employee can truly say that he is completely innocent of any unethical behavior in the workplace? Some of the most common unethical business behaviors are fudging work hours, making phone calls on business lines and photo copying of personal paperwork. Simple acts such as these are highly unlikely to have an

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  • Bernie Madoff

    without noticeably affecting the market." It further described how "experts ask why no one has been able to duplicate similar returns using [Madoff's] strategy." The Barron's article, written by Erin Arvedlund and entitled "Don't Ask, Don't Tell: Bernie Madoff is so secretive, he even asks his investors to keep mum," discussed how Madoff's operation was among the three largest hedge funds, and has "produced compound average annual returns of 15% for more than a decade" with the largest fund "never

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  • Worldcom

    corporate scandals: Enron, Tyco, Global Crossing. In many ways, WorldCom is just another case of failed corporate governance, accounting abuses, and outright greed. But none of these other companies had senior executives as colorful and likable as Bernie Ebbers. A Canadian by birth, the 6 foot, 3 inch former basketball coach and Sunday School teacher emerged from the collapse of WorldCom not only broke but with a personal net worth as a negative nine-digit number.2 No palace in a gated community, no stable

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  • Worldcon

    economy and communications infrastructure. Bernie Ebbers isn’t the founder of WorldCom but was a major factor in making LDDS which is a small start-up company in Mississipi that offered regional long distance discount services into a major global telecommunications company. Ebbers in 1997 stated that his goal was to be the number one stock on Wall Street. His plans were focused on mergers for growth relying on using WorldCom stock to finance the mergers. Ebbers acquired around 75 companies with the largest

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  • Bernie Madoff Downfall

    Bernie Madoff has become known to many people as the man that perpetrated by far the largest scam in the history. His reputation of a successful investor, financial genius, and a chairman of NASDAQ took a turn for the worst when his so called split strike conversion strategy turned out to be nothing but a huge ponzi scheme affecting thousands of investors from around the globe. Although many financial advisors questioned his strategy and argued that it is virtually impossible to achieve, he managed

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  • Bernie Madoff

    Bernard Madoff Research Paper Bernard (Bernie) Madoff committed this century’s largest Ponzi scheme to date. First we will define Ponzi Scheme – it is a fraudulent pyramid scheme where original investors are paid their gains out of new investors money so it would appear to old investor that the scheme (business) is producing an unusually large return (Albrecht, 2009). The Ponzi scheme that Madoff created and pulled off for years was quite intricate. In a standard pyramid scheme each victim

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  • Bernie Madoff

    Bernie Madoff Andrea L. Nolt Strayer University Intro to Business Professor Karina Arzumanova August 21, 2011 Bernie Madoff Bernard Lawrence “Bernie Madoff” is an American former stock broker, investment adviser, non-executive chairman of the NASDAQ stock market, and the admitted operator of what has been described as the largest Ponzi scheme in history. (Bernard Madoff, 2011) This paper discusses the massive Ponzi scheme that Mr. Madoff created and those that were affected by it.

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