Bernard Madoff had complete control of the organizational direction of Bernard Madoff Investments Securities LLC. Madoff used his charisma to convince his friends, members of elite groups and his employees to believe in him. He tricked his clients into thinking they were investing in something special. He often turned away potential investors, which helped Bernard target investors with more money to invest. Bernard Madoff created a scheme that promised high short-term returns and was nothing more than a Ponzi scheme. The idea of ​​the scheme relied on funds from new investors to pay deceptive and extremely high returns to existing investors. He'd been doing this for years; convincing wealthy individuals and charities to invest billions of dollars in his hedge fund. And they did so because of the extremely high returns promised by Madoff's company. If anyone had taken a deep look at their company structure, it would have clearly shown that something is wrong. This is because no one can make that much money in the market, especially if no one else could at that time. How could one person, Madoff, hold, value and manage all of his clients' assets? This is clearly a conflict of interest. His company posted high profits year after year; despite the losses of most companies in the market. In fact, the case of Bernard Madoff is absolutely astounding when you consider the range and number of investors who found themselves involved.Bernard Madoff – Case SummaryBernard Madoff opened his business in 1960. His business began expand when his father-in-law Saul Alpern, who was an accountant, came to the firm. Because there were many competitive companies at that time, Madoff decided to use innovation...... middle of paper ...... The Wall Street Journal.Web site: http:/ /s.wsj.netBerenson, Alex; Henriques, Diana B. (December 13, 2008). "Watch Wall St. Wizard Finds Magic Had Skeptics". The New York Times. Website: http://www.nytimes.comHamilton (December 13, 2008). "Madoff's Reliable Returns Raised Doubts". LA Times. Website: http://www.latimes.com Harris, Larry (2003). Trading and exchanges: market microstructure for practitioners. Oxford University Press. p. 290. Website: http://books.google.comScannell, Kara (January 5, 2009). "Madoff Chasers dug for years, to no avail". The Wall Street Journal. Website: http://online.wsj.comBiggs, Barton (January 3, 2009). “The Ponzi Affinity Scheme”. Newsweek website.: http://www.newsweek.comCreswell, Julie (January 24, 2009). "The Talented Mr. Madoff". New York Times website: http://www.nytimes.com