Bernie Madoff Scandal

provide information about the perpetrator or perpetrators, motivations for the fraud (e.g., opportunity, pressure and rationalization), amount of loss, criminal statute(s) violated, and other interesting facts. List some of the fraud scheme symptoms that were present/should have been present that should have revealed the fraud. These could include:

accounting/analytic (ratio analysis) symptoms

internal control weakness

personality symptoms

lifestyle symptoms

tips and complaints, or

other symptoms

Also consider the following questions:

Why do you suppose the fraud went undetected for such a period of time?

What controls could have been in place to prevent this fraud?

What advice do you provide the victim to prevent the same fraud from occurring again?

Given the facts outlined in the indictment, are there additional statutes that would have applied to this fraud case?