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
Fraudulent conveyance a knowledge that the action harms the rights of the creditor. To exercise this right, the creditor must have a right against the debtor which is monetary and not unique and personal in nature. For instance, the right to demand to clear of the land of the building or the right to delivery the land involves land and unique and therefore not subject to Pauline action(Korean Supreme Court Decision February 10, 1995, 94da2534). Fraudulent conveyance A fraudulent conveyance, or fraudulent transfer, is an attempt to avoid debt by transferring money to another person or company. It is generally a civil,