FINC20019: Contemporary Issues in the Banking and Financial Markets - Research Report

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Research Report Outcomes

• Evaluate the opportunities and risks inherent in financial markets for the investor.
• 2 Research contemporary issues impacting on investment decisions and the sustainability of financial markets.

Assignment Task Research Topic: Only 11 to December 2008 Bernard Madoff, former non-executive chairman of NASDAQ, was arrested and charged with a variety of criminal offenses including securities fraud, wire fraud, money laundering and perjury. On 12 March 2009 he pleaded guilty to the charges brought against him, resulting in a 150 year sentence being handed down on 29 June 2009. He was guilty of the largest investor fraud in history with an estimated $65 billion lost from financial institutions and individuals around the globe. The type of scam he was involved in is called a Ponzi scheme. Based on your broadly research pf Ponzi schemes / scams and the Bernard Madoff case: a) Describe a Ponzi scheme / scams b) Write a detailed background on the case c) Use tables and charts to show timelines of events d) Present findings of institutions and investors affected. e) Discuss the outcome of the case in terms of recommendations and implications for the future f) Discuss whether you think enough has been done to reduce the chance of this happening to gain Tip: This case is quite famous and dominated the media for many months. Hence, show initiative with this research topic by refer to journal articles, youtube, professional publications and media documents.