Phil Cannella Scam: How Madoff Altered the SEC

Through humble beginnings, Bernie Madoff had taken advantage of his intellect and meticulous character to shoot to the top of the financial business. He leveraged the small agency he started with money he made installing sprinkler systems into one of the largest stock trading firms within the financial industry. Madoff sooner or later transitioned into management of their bucks, a move which may lead him to become probably the most notorious figures throughout Wall Street history. A tip from Madoff’s son’s, Mark and Claire, revealed that their dad had perpetrated one of the largest frauds ever registered, fleecing his investors on the tune of $65 billion dollars. While awaiting trial for securities fraud, Madoff satisfied with SEC Home inspector General H. David Kotz, who was investigating the actual SEC’s failure…
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