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 is an ENTRUPENUR,
incarcerated American felon, former stock broker, investment advisor,
non-executive chairman of the NASDAQ stock market, and the admitted
operator of what has been described as the largest Ponzi scheme in
history.
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ï mernard Madoff Also know as mernie and mig
Dogg was quite the party goer and philanthropist.
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ï Ô s;
ï After graduating from Hofstra College -- and one
year after marrying his high school sweetheart
Ruth Alpern -- Madoff starts his business with
$5, saved from odd jobs, including
lifeguarding and sprinkler installations. He
works out of Ruth's father's accounting firm in
midtown Manhattan.
ï His plan is to make money as a market maker --
matching buyers and sellers who want to trade
smaller stocks that aren't listed on the big
exchanges.
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ï Ô s; His business grew with the assistance of
his father-in-law, accountant Saul Alpern, who
referred a circle of friends and their families.
Initially, the firm made markets (quoted bid and
ask prices) via the National Quotation mureau's
Pink Sheets.
ï This took time to do since it was paper work and
had to be sent in. Madoff needed something to
keep up with the larger companies
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ï Ô s & Ô s
ï In the Ô s, Madoff's market-maker division
traded up to 5% of the total volume made on the
New York Stock Exchange. Madoff was "the first
prominent practitioner
ï The Madoff family has long-standing, high-level
ties to the Securities Industry and Financial
Markets Association (SIFMA), the primary
securities industry organization. mernard Madoff
sat on the moard of Directors of the Securities
Industry Association
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ï mernard L. Madoff Investment Securities LLC
operates as a securities broker/dealer in the
United States and internationally. It provides
executions for broker-dealers, banks, and
financial institutions.
ï This is the company he used to run his Ponzi
scheme.
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mernard Madoff explained his


purported strategy to The Wall Street
Journal. He said the returns were
really nothing special, given that the
Standard & Poors 5-stock index
generated an average annual return
of Ô.3%.

  

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ï mernard Madoff created the longest and largest
Ponzi Scheme in history
ï He is a true ENTRUPENUR, businessman and
philanthropist
ï A good man at heart but got a bit greedy and
hurt some people
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