Financial Statement Fraud

Harry Markopolos once said: “…it’s not the armed robbers or drug dealers who cause the most economic harm, it’s the white-collar criminals living in the most expensive homes who have the most impressive resumes who harm us the most. They steal our pensions, bankrupt our companies, and destroy thousands of jobs, ruining countless lives.” What … Continue reading Financial Statement Fraud

Bernie Madoff: The $65 billion Ponzi scheme

A charismatic man Bernie Madoff was a well-respected financier and former non-executive chairman of the NASDAQ stock market. An affable man who could be charming and very charismatic with people. He was an exceptional marketer who managed to cultivate an image of exclusivity, often initially turning clients away. These qualities enabled him to run the largest Ponzi … Continue reading Bernie Madoff: The $65 billion Ponzi scheme

Money Laundering – The Cleaning Process of Dirty Money

The Process Can too much money actually be a problem? Yes, if we are talking about ill-gotten money. Criminals cannot deal with large amounts of illegal cash since it’s inefficient and dangerous for them to get caught. Therefore, for criminal organizations it is necessary to find a process to make dirty money look legitimate. This … Continue reading Money Laundering – The Cleaning Process of Dirty Money