Friday, December 12, 2008

Multiple Red Flags in Madoff Case

Many people have been talking about Mandoff's fraudulent tactics. He is alleged to have pulled off one of the biggest frauds in Wall Street History. But, many people believe that there were many red flags including a series of accusations leveled against Madoff's operation. "There's no smoking gun, but if you added it all up you wonder why people either did not get it or chose to ignore the red flags" says Jim Vos, who runs Aksia LLC. How can so many people on wall street get away with these schemes when analysts and other people are evaluating their companies daily.

1 comment:

Caitlin Duggan said...

I think scandals like these happen far to often. I think the SEC needs to impose stricter regulations that leave little room for scandal and corruption within companies. Recently there has been alot of media about fraud and scandals i think something needs to be done about this.