The greatest scams in the US Stock Market
In the United States stock market, there are some spectacular scams that have been perpetrated over the years. From Ponzi schemes to insider trading, these scams have cost investors billions of dollars and created an atmosphere of mistrust in the stock market. Here we will look at some of the greatest scams in US stock market history and how they were perpetrated. Bernie Madoff Scandal The most notorious of all US stock market scams is that of Bernie Madoff. Madoff was a broker who operated one of the most successful investment firms on Wall Street. Through a mixture of deception and fraudulent activities, Madoff was able to convince his investors that the returns they were receiving on their investments were legitimate. Although it was later discovered that much of the money being invested was simply being reinvested to create the illusion of higher returns, the scheme cost investors a whopping $17 billion. CEO stock options backdating scandal Another major stock market scam was the C...