Madoff investment scandal Madoff investment scandal The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. In December of that year, Bernard Madoff, the former NASDAQ Chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate Ponzi scheme. Madoff founded the Wall Street firm Bernard L. Madoff Investment Securities LLC in 1960, and was its chairman until his arrest. The firm employed Madoff's brother Peter as senior managing director and chief compliance officer, Peter's daughter Shana Madoff as rules and
MMM Global urban areas of Zimbabwe. The Reserve Bank of Zimbabwe warned its citizens to stay clear of the program as it could be a fraudulent scheme. The scheme began in China in 2015 and collapsed in early 2016. In January 2016, the Chinese government banned MMM on the grounds that it was a pyramid scheme and was not registered in the country (since a fraudulent scheme cannot be registered). In November 2016, MMM was launched in Ghana. In October 2016, it was reported that MMM entered Kenya and opened a local subsidiary. MMM Kenya offers similar terms to participants as in