Ethical issue that has been revealed is that Bernie Madoff Ponzi Scheme
The ethical issue that has been revealed is that Bernie Madoff Ponzi Scheme where he has stolen the company’s investors without knowing it. Bernard Lawrence “Bernie” Madoff, an American banker who has carved the largest project “Ponzi” in history, has thwarted investing thousands of billionaires for at least 17 years and is no longer able to do so. He was an electronics commercial pioneer and leader of the Nasdaq market in the early 1990s. According to the Securities and Meteorological Commission, the Ponzi project is a pyramid scheme that works on “robbing Peter to pay Paul.” With the promise of income-earning fraud, new investor interest is used to pay investors to increase the number of new employees and the collapse of all new project and lost everything. It is unclear when the Madoff Initiative was launched. Very few are the reason why Madonna has never performed. Legal business is very favorable, and Marcus may win as a market maker and pioneer in e-commerce. It is pointed out that the Big Four and others – some of the funds raised mean some of them are that they have a responsibility to control the assets of the customer, have to suspect that the return has been made, have to be there or there. These ultra-high net income are looking in the opposite direction. In fact, just placing a Madoff bank account at Chase, Manhattan, merged in 2000 and becoming JPMorgan Chase & Co., according to estimates, could be worth $ 483 million of these deposits, so they are willing to consult with them. When customers want to buy their investment, they have a new capital, Madoff, which has attracted with its reputation for incredible return and the care of victims of their trust. Madoff also developed an image of perfection that initially diverged customers. This model represents half the founder of Madonna Investors. When these investors are required to pay the “victim” waste fund to compensate for lost investors. Madoff creates respect and charity that drives investors through charity work. He has lurked some NGOs and lost funds, including the Eli Wills Foundation for Peace and Charity.
Bernie Madoff Ponzi Scheme
The main ethical issue that has been revealed is that Bernie Madoff has stolen the company’s investors without knowing it. He did not make a proper investment, but he was interested in the fact that only rich people. Madoff’s actions are ethical and deserve punishment. Due to Madonna’s misconduct, many investors suffered greatly. Life is taken and wealth is lost. Madoff’s actions not only affected investors and others on Wall Street but also attacked the accounting community. Madoff does not claim the correct amount in many of its forms, so it creates a problem for an accountant regarding the company’s financial records. While committing some crimes, Bernie Madoff did not know in advance that his actions would create Dominican influence in different parts of the world. Bernice Madoff’s Ponzi project is known as the largest skeleton in the history of Wall Street. Madoff’s action is a concrete example of immoral attitudes that are happening every day in the business world. However, there are many ways that the company can prevent such fraudulent activity from doing its own business. The first way to eliminate fraud is to hire qualified people to monitor company financial reports. His people have to pass the business ethics exam so that they can work with their own records. Another way that the company can prevent fraud is to avoid or eliminate all systems that can tempt people to commit crimes. If Mark changed his system, he might have survived such a temptation. Bernie Madoff Ponzi Scheme is a hope for the example of others about immorality and hopes to prevent Ponzi from entering into the future.
In this case there are many moral and error issues. For profit, Bernie Madoff and her compositions have formed and participated in what could be considered the greatest story in history. After stock trading and stock trading for many years, Bernie Madoff violated the law and cheated customers and investors to collect millions of dollars. It is immoral for him and for others to be filled to express investor confidence. When he was repeatedly questioned by the investigators, he always lied to avoid criminal or suspicious accusations. What started a faithful life path became illusion and how to calculate theft of money from other people.
Bernie Madoff, his brother, Peter, and many staff involved in the project. Some people who implement the Ponzi plan deny the realization of fraudulent activity. Bernie Madoff cannot manage this project because it needs a lot of people with their own experience. The reason for this long-awaited project is that the participants are given financial rewards for their serenity. Preferred employees are paid well. Even when the scams are being shown, Mendoza and his colleagues are trying to make money to hire staff and family members. The money they received was quietly bought. Corporate culture has reinforced this attitude, little patience and gratitude for professional ethics and professional ethics. The company is working on a number of lies that will destroy the whole agreement.
If the decision made by the involved parties ethical work for Bernie Madoff and seek moral issues, they will pay particular attention to this and how to deal with the moral imagination. First, they will send their concerns to the manager or supervisor. They will look at the implications of the stakeholders and try to judge my own involvement in the project and set my mistakes. This can be the result of a darkening of change when the real people involved in the project cannot see the wrong practices that have happened around them or where they are.
During this assessment or after this evaluation, they will review the fraudulent activities of the SEC and other law enforcement agencies to provide as much truth as possible and provide detailed information about how they and others can play. In this way, they will seek protection from fraud and try to grant other rights and jobs. From then on, they will use this experience as an opportunity for study and will try to determine the moral issues at the outset.
This situation can be prevented if key players have moral attitudes. Bernie Madoff decided to break the law to lie customers and hide his money due to greed, coercion and colleagues’ negligence to others. His business model is not in accordance with basic ethics and laws. If he decides to be legit and honest with the investor, it will not happen. He promises to get high returns, knowing he cannot produce it, and they have rushed to refrain from insulting until he is arrested. He and other participants in the program can give volunteers the truth all the time, but they decide not to do so. Participants in the project went a step further and loaded their bags. They may decide not to join or tell the truth after the lie has begun. And of course it is positive impacted.
Finally, to me business ethics is a study of valid business policies and practices related to controversial issues such as corporate governance, internal trafficking, bribery, discrimination, corporate social responsibility, and accountability. Laws often govern the business code, and in other cases, business ethics provide the basic framework that businesses can choose to continue to gain public acceptance. And the difference of my view is that I found the practice of business ethics is more important in business phenomenon.
References
Alex, 2014. Disclosure: The Bernie Madoff Ponzi Scheme Case. [Online] [Accessed 24 June 2018].
Friedman, 2014. Bernie Madoff: Greatest Ponzi Scheme in U.S. History. [Online] [Accessed 24 June 2018].
Paulacunniffe, 2012. Bernie Madoff Ponzi Scheme and the Absence of Ethics. [Online] [Accessed 24 June 2018].
Telegraph, 2017. Bernie Madoff Ponzi Scheme: What is a Ponzi scheme and how does it work?. [Online] [Accessed 24 June 2018].
Yang, S., 2014. Bernie Madoff Ponzi Scheme: 5 Years Ago Bernie Madoff Was Sentenced to 150 Years In Prison – Here’s How His Scheme Worked. [Online] [Accessed 24 June 2018].
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