Bernie Madoff

Bernie Madoff - Bernie Madoff is the former chairperson of the Nasdaq who was accused in 2008 of more than a $50 million dollar swindle from investors in the complex Ponzi Scheme. This scheme started to come undone in 2008 when the stock market dropped substantially and investors stated bulk withdrawal requests. Bernie Madoff in 2009 pleaded guilty and admitted to operating the largest fraud scheme in history by a single individual. This fraud scheme managed to take in many unsuspecting investors who didn't understand what was happening and was not aware of what had occurred at the time, but as soon as they become aware they began demanding returns.