Nowadays, it’s difficult to deceive businessmen, and to drag ordinary people into any dubious deal. But several decades ago, financial pyramids were created very successfully, because of which millions of people suffered. Some lost only part of their savings, while others lost a fortune. A striking example of such a devastating scheme is the scam of Bernard Madoff. She affected not only American society, but also the largest foreign companies.
Biographical data
Probably many have heard that there was such a swindler Bernard Madoff. Who is it, where does he come from and where did he study? He was born and raised in a Jewish family. In the late 50s of the last century, he graduated from high school, after which he decided to graduate at Hofstra College, which is located in New York. At the end of his studies, he received the status of a bachelor in politics. In his student years, Madoff did not lose time and worked part-time in several places. As a result, he collected a sum of five thousand dollars, which was used to create his own company under the name "Madoff Investment Securities". Later, when things went well, the businessman invited his brother Peter to work together, and then two nephews and two of his sons.
What did Madoff do?
Bernard Madoff participated in the creation and operation of one of the American stock exchanges - NASDAQ. Its main task was the purchase and sale of shares, various securities, which was supposed to be profitable for investors.
Interestingly, the Madoff company was one of the 25 largest participants in the trading operations of this exchange. In addition, he is rightfully considered the pioneer of electronic bidding. After all, the first to transfer the entire workflow to electronic mode was Bernard Madoff. Who is he, if not an innovator? After him, other companies gradually began to apply computerization.
Career takeoff
In the 90s, the company of a successful merchant noticeably began to go up. At this time, he managed to take the post of chairman of the board of directors of the exchange, and also headed the board of directors (SD) of the hedge fund Madoff Securities International, which was founded in 1983. Madoff’s high posts do not end there - in 1985 he participated in the foundation and was a member of the Board of Directors of International Securities Clearing. The latter was known for its financial clearing operations, settlements between firms and even countries on a non-cash basis.
Charity
In addition to commerce, Bernard Madoff was involved in charity work. He stepped on this path after one of his nephews died of leukemia in the early 2000s. Since then, Madoff has often donated decent amounts to cancer research. Together with his legal wife, the businessman founded his own fund, which allocated donations to various Jewish charity events, events, educational institutions, theaters, etc.
Considerable sums were also invested in the election campaigns of some American politicians. So, for various reasons, Bernard Madoff financially supported the representatives of the Democratic Party. In addition, he led the treasury of the board of attorneys of the business school at Yeshiva University.
