Abstract
This is the third in a series of five articles focusing on how Bernard Madoff’s confidence game (con game) worked. This paper looks at more of the activities of the Bernard L. Madoff Investment Securities (BLMIS) employees who were Madoff’s accomplices. Not surprisingly, deception was rampant at the BLMIS IA (investment advisory) business where criminal activities continued for decades. An examination of other con games shows clearly that pretending, misrepresenting, and dissembling were hardly unique to Madoff’s con.
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Notes
Securities Investor Protection Corporation, Irving H. Picard, Trustee v. Frank J. Avellino, etc., United States Bankruptcy Court, Southern District of New York, Adv. Pro. No. 08-01789 (BRL), December 10, 2010, pp. 42–43.
Further Reading
Merton, R. K. 1936. The Unanticipated Consequences of Purposive Social Action. American Sociological Review, 1(6), 894–904.
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Lewis, L.S. The Confidence Game: Madoff and the 17th Floor Ensemble. Soc 50, 493–502 (2013). https://doi.org/10.1007/s12115-013-9698-1
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DOI: https://doi.org/10.1007/s12115-013-9698-1