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Paper Topic:

Bernard Lawrence

Running Head : Bernard Lawrence

Bernard Lawrence

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Question 1 : Describe the three types of illegal behavior alleged allegations against Mr . Madoff and for each of the behavior explain why it is illegal or unethical in the conduct of business

Ans ) Bernard Lawrence Madoff was a stock broker , investment advisor and the non executive chairman of the NASDAQ . Bernard has been found guilty for 11 federal crimes for which he has been sentenced to imprisonment for 150 years and had to pay 170 .179 billion as a

penalty

He was convicted for 11 federal crimes which included security fraud money laundering , perjury , theft from an employee benefit plan , wire fraud and mail fraud . In to further clarify three of the crime would be explained in details which are as follows

Money Laundering : Bernard Lawrence had been convicted for 2 International money laundering crimes . He had been using the money of his investors for his own purposes and was showing false accounts . His company was convicted of tax evasions and taking advantage and showing false accounting in his books . This is a serious crime in the whole world as this is a way of misinterpreting and misleading the investors and the government officials . This is an unethical business practice because it refers to concealing important details of the business from the various stakeholders and thus taking undue advantage from that . The companies seem to misguide the public and the government and save million dollars by evading taxes...

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