5 Page Research paper regarding Bernard Madoff. Who, what, where, why and how.
In 2008, Bernard Madoff was charged with an economic crime the likes of which had never been seen before in the U.S. Madoff was accused of defrauding investors of as much as $65 billion dollars. As with the O.J. Simpson case, Madoff’s activities resulted in both criminal prosecution and civil litigation (more than one). Madoff was charged with operating a “Ponzi” scheme. What is a Ponzi scheme? How does it work? Why is it illegal? Is it a “white collar crime?” What exactly did Madoff do that would explain why it was a Ponzi scheme? What theories of criminology do you believe most clearly explain what would compel or motivate someone like Madoff to commit such a crime?