Madoff investment scandal to enable the Irish regulator to uncover the fraud much earlier than late 2008 when he was finally arrested in New York. The scheme began to unravel in the fall of 2008, when the general market downturn accelerated. Madoff had previously come close to collapse in the second half of 2005 after Bayou Group, a group of hedge funds, was exposed as a Ponzi scheme that used a bogus accounting firm to misrepresent its performance. By November, investors had requested $105 million in redemptions, though Madoff's Chase account only had $13 million. Madoff only survived by moving money from his
Fraudulent conveyance try to streamline the analysis of constructive fraud, and judges are increasingly focusing on these market based measures. Under Swiss law, creditors who hold a certificate of unpaid debts against the debtor, or creditors in a bankruptcy, may file suit against third parties who have benefited from unfair preferences or fraudulent transfers by the debtor prior to a seizure of assets or a bankruptcy. Fraudulent conveyance or also known as action revocatoire or Pauline action (채권자취소권) is a right to preserve the debtor's property for all creditors by canceling an action by the debtor which reduces the debtor's property with