Eastern Gateway Community College Bernie Madoff Paper

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Bernard Madoff Video
Bernard Madoff $50 Billion Ponzi Scheme: How Did He Do It?

The facts behind Bernie Madoff’s Ponzi scheme are explained in this video:

https://youtu.be/al5SLsoe0C0

Review the video and give your opinion if this is a "victimless crime" explain your answer

Discussion Questions:

1.Chapter 11 Discussion The framers of the Constitution designed the Senate to filter the output of the sometimes hasty House. Do you think this was a wise idea? Why or why not?

2.Chapter 12 Discussion: Over the past few years, discussions about the viability of the electoral college has taken center stage. We saw this with the election of George W. Bush and calls to abolish the electoral college became deafening after the 2016 election. What are the benefits and risks of abolishing the electoral college?

3.Chapter 13 Discussion: What should be the most important considerations when filling judge and justice positions at the federal level?

4. Colton Gang Injunction

News Story of the Colton Civil Gang Injunction

The civil gang injunction in Colton, California, is discussed in this video:" href="http://www.youtube.com

Review the video and give your opinion.

5. Vice crimes offend the sensibilities, yet are often victimless and harmless, other than harm done to the defendant or society in general. Section 12.3.1 “Drug Crimes” explores drug crimes, including manufacture or cultivation,possession, sale, and under the influence offenses. Upcoming sections analyze prostitution, pimping, and pandering. In the final section, various vice statutes are available for review, including statutes criminalizing gambling and conduct involving alcohol.

Do you agree that such crimes are "victimless" crimes?

6. Define the elements required for federal mail fraud, and cite a case pertaining to mail fraud.

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Explanation & Answer

Attached.

Running head: BERNIE MADOFF’S PONZI SCHEME

Bernie Madoff’s Ponzi scheme
Name
Course
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BERNIE MADOFF’S PONZI SCHEME

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Bernie Madoff’s Ponzi scheme
Bernie Madoff's scam is a perfect example of victimless crime. The understanding of a
victimless crime is that it is an offence which does not result in anyone feeling that they have
been injured for him or her to report the crime to the authorities. Considering the circumstances
at which Madoff operated the scam, it was apparent that no one was going to complain. Every
investor received their fair share of the deal as he had promised.
In this scam, Madoff lured investors by promising them a good return for their money.
He claimed that he would invest that money in the stock market and give out returns in terms of
monthly profits. However, he never invested any money that he received from anyone he
managed to convince. What Madoff did with the money is that he placed all the money in a bank
account. He used the money from the new investors to pay off returns of the old investors as he
had promised. This made the operation look profitable and authentic, although there was no
actual profit in reality. He, however, pocketed the extra money or used it to expand the process.
Bernie took several initiatives that would ensure none of his victims feels injured and
raises the alarm to the authorities. Bernie took advantage of his reputation and charism to lure
potential investors. Probably being a reputable person, no one would have believed or thought
that they were being conned to raise complaints. Bennie further took advantage of his financial
expertise to make the returns as consistent as possible. This meant that his victims were not
experiencing any loss, and therefore, they would not complain. Whenever someone wanted to
pull out their money, Bernie did not hesitate to give them. This made people feel like he had
made legitimate investments with their money and that their money was in safe hands which
were not the real thing. To avoid having too many people who had invested claiming their
profits, Bernie encouraged them to stay in the game and earn more profits. Bernie's investment

BERNIE MADOFF’S PONZI SCHEME
strate...


Anonymous
Great content here. Definitely a returning customer.

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