Bernard L. Madoff Investment Securities LLC
This brings us to reflect on some of the specifics of the Madoff case. Bernard L. Madoff was a former
non-executive chairman of NASDAQ, one of the largest stock exchanges in the North America. The
news of the Ponzi scheme that broke in late 2008 was met with reactions such as “shock” and
“disbelief” (Traders Magazine 2008). Madoff fell from grace, once regarded by his peers as an
industry leader, now regulated to the status of what Sutherland (1940) would have surely concluded,
that of white collar criminal. Using Michel’s (2008) definition of white collar criminals, Madoff was an
expert and professional in his field, whose actions within the business environment were underpinned
with wrongful intentions.
Bernard L. Madoff Investment Securities LLCThis brings us to reflect on some of the specifics of the Madoff case. Bernard L. Madoff was a formernon-executive chairman of NASDAQ, one of the largest stock exchanges in the North America. Thenews of the Ponzi scheme that broke in late 2008 was met with reactions such as “shock” and“disbelief” (Traders Magazine 2008). Madoff fell from grace, once regarded by his peers as anindustry leader, now regulated to the status of what Sutherland (1940) would have surely concluded,that of white collar criminal. Using Michel’s (2008) definition of white collar criminals, Madoff was anexpert and professional in his field, whose actions within the business environment were underpinnedwith wrongful intentions.
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