The blogs he wrote made people lose a lot of money. He may not know what means to manipulate the stock market since he was too young. the S.E.C suited him for stock graud('33-7891") because the S.E.C stood in the side of law, which means there was no exceptions no matter age, sex or race. Also, his father supported him while he was breaking the law. He lied, made people lost money and even made chaos in stock market.
However, with the persuasion of a few willing individuals along with his high ranking position in the Navy, he was able to orchestrate this scheme to perfection before ultimately getting caught in February of 2011. This scheme took place over a twelve year period from 1999 to 2011 when he used his position in the Navy to direct Russell Spencer, a computer specialist, to submit millions of dollars in fraudulent invoices to Navy contractor Advanced Solutions for Tomorrow. This money was disbursed amongst Mariano and close relatives over a long period of time. Mariano has admitted that little to no work was done for Spencer to receive this money that ultimately ended up in the pockets of Mariano. Ralph has admitted to receiving $3,081,671 of Navy funded checks from Spencer.
CEO Dennis Kozlowski, CFO Mark Swartz, and CLO Mark Belnick all received $170 million in low-to-no interest loans that the shareholders did not approve ("Investopedia", 2014). They also authorized the sale of 7.5 million shares without the knowledge of its board of directors. Kozlowski used much of these funds for an extremely lavish lifestyle ("Investopedia", 2014). He even threw his wife a $2 million dollar birthday party on a private island and had a celebrity perform ("Investopedia", 2014). During an investigation there were many questionable accounting transactions that were brought up, such as large executive bonuses as well as many loans for large amounts of money that were later forgiven without repayment.
Madoff employeed several members of his family in the business. In 1970 his brother Peter became the firm's chief compliance officer. Later, Madoff's sons Andrew and Mark also worked for the company as traders. Peter's daughter, Shana, became a rules-compliance lawyer for the trading division of her uncle's firm, and his son, Roger, joined the firm before his death in 2006. In December of 2008 Madoff then admitted that a branch of his firm was actually an elaborate Ponzi scheme.
The auditor conclude about 90 percent of the donations were used for Life insurance scheme and only 10 percent went for charitable purpose. 2. Man arrested in $100M Navy vet charity scam By Thomas J. Sheeran - The Associated Press Posted : Tuesday May 1, 2012 13:09:35 EDT A fugitive was arrested for running a scam that collected millions of dollars from people that believed to raise money for Navy veterans in Cleveland. The man used a false identify of Bobby Thompson and had multiple fake ID cards. He was indicted in Ohio in 2010 on theft, money laundering and other Florida-based charity related charges; however he disappeared in June 2010.
Although, There was a tremendous amount of damning evidence against Pickton that the jurors deciding his fate did not hear during his year-long trial in 2007, including an allegation from a sex-trade worker that he nearly stabbed her to death. A series of behind-the-scenes legal rulings meant explosive Crown evidence was kept from the jury, which ultimately found Pickton not guilty of first-degree murder in the deaths of six women, but guilty of the lesser charge of second-degree murder. Whether the six murders Pickton was convicted of committing were sex crimes was never debated during the trail, because the victim’s remains did not provide the evidence. When prosecutor Michael Petire told the jury at the end of the prosecution‘s case on August 13, 2007 that he was “satisfied the evidence the Crown should be calling has been called, “what he surely meant was that he had called the evidence he was allowed by the law to reveal to the jury. Some of the information such as most of the evidence pertaining to the other 20 victims was held back from the jury after the judge ruled in August 2006 that Pickton should face two separate trials; the first one on six counts, and the second one on 20 counts.
Many people believed him and gave him a lot of money, but he spent almost all the money for himself. He couldn’t pay back the money to some people. While he was taking money from the people, he collected more then 64 billion dollars from them, and when people tried to see their investments, he used a fake screen computer with ponzie scheme software to present a false investment. This way is similar to Tom’s investment in that, they both were greedy, and acted like friends to people, and made them think that they would become rich. On the other hand, there were many differences between Tom and Bernie.
Many people know of Bernie Madoff as the man that perpetrated by far the largest scam in the history of the United States, if not the world. His reputation of a successful investor, chairman of NASDAQ, and financial genius took a turn for the worst when his so called split-strike conversion strategy turned out to be nothing but a momentous Ponzi scheme affecting thousands of investors from around the globe. A Ponzi scheme is “a fraudulent investment operation that pays returns to investors out of the money paid by subsequent investors rather than from legitimate profits (Fitzpatrick, 2010).” The Ponzi scheme was named after Carlo (Charles) Ponzi who fled Italy for America at the age of 21. In 1919 Ponzi developed a scheme to get investors
But nothing from the cables linked the Rosenbergs to it; Julius was arrested on suspicion of espionage when he was named by Sergeant David Greenglass, Ethel’s brother. Julius was the first to be arrested, Ethel was arrested one month after her husband. The FBI was at first very unsuccessful in getting any information from Julius Rosenberg so hoping to persuade Julius into talking they made Ethel’s case capital. This was a very controversial because it was obvious that not enough evidence had been found that would lead the FBI to believe that Ethel was involved enough to receive the death sentence.. While in jail both Ethel and Julius wrote letters that were widely published and that let the public know what they were going through.
Wealth spurs carelessness On March 14th 2009 Mario Reyes was killed by a former NFL player, Donte Stallworth. Unfortunately, Donte Stallworth did not properly pay for his crime. In the end Donte only spent 30 days in a local jail, because he had the money to create a "confidential financial agreement" with Reyes' family. Fitzgerald tackles this controversial issue through his novel The Great Gatsby. This novel is no different multiple issues occur as Jay Gatsby tries to rekindle the relationship of a lost love, Daisy Buchanan, many immoral events occur involving other characters such as Nick Carraway,Tom Buchanan, Myrtle Wilson, and Jordan Baker.