Harry markopolos bitcoin wallet
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Villehuchet committed suicide soon after Madoff's scheme collapsed, having lost $1.5 billion.
Even after leaving Rampart, Markopolos persevered, driven by the intellectual challenge of solving the problem, and the ongoing encouragement from a Boston SEC staffer, Ed Manion. Additionally, Markopolos believed that if Madoff was front-running, he would have to siphon off money from his broker-dealer arm to pay the investors in his hedge fund.
In the document Markopolos states:
Bernie Madoff is running the world's largest unregistered hedge fund. http://www.boston.com/business/ticker/2009/02/markopolos_hono.html.
Carol Alexander's blog posts Tether and Bitcoin Ponzi Ecosystem Stage 1: UPand Tether and Bitcoin Ponzi Ecosystem Stage 2: DOWNfor details. Claims of up to $1.6m are being fully repaid.
"Madoff had early skeptic in Boston gumshoe". He explained that Madoff's "math never made sense," that his "return stream never resembled any known financial instrument or strategy," and that Madoff wasn't making the volumes of trades he claimed. Either way, Markopolos believed there was no legal way for Madoff to deliver his purported returns.
Markopolos believes that his customers lost $10 billion to $35 billion, most of which went to early investors. As he saw it, there were only two ways to explain the figures—either Madoff was running a Ponzi scheme (by paying established clients with newer clients' money) or front running (buying stock for his own account, based on knowledge about his clients' orders).
Markopolos later said that he knew within five minutes that Madoff's numbers didn't add up.
Retrieved 30 August 2011.
External links
| Persondata | |
|---|---|
| Name | Markopolos, Harry |
| Alternative names | |
| Short description | |
| Date of birth | October 22, 1956 |
| Place of birth | Erie, Pennsylvania |
| Date of death | |
| Place of death | |
- Living people
- American writers
- American money managers
- American people of Greek descent
- American whistleblowers
- 1956 births
- Boston College alumni
- Financial analysts
- Hedge fund managers
- Loyola University Maryland alumni
- Madoff investment scandal
- People from Erie, Pennsylvania
- People from Boston, Massachusetts
- United States Army officers
Harry Markopolos
Education and career
Markopolos (who pronounces his surname "Mar-ko-po-lis") attended Roman Catholic schools, graduating from Cathedral Preparatory School in Erie, Pennsylvania in 1974.
He has commanded troops at every rank from 2nd Lieutenant to Major during 17 years of part-time reserve component service in the Army National Guard and Army Reserve. This would have resulted in his broker-dealer's customers getting shortchanged—something that would not have gone unnoticed by Madoff's more sophisticated customers.
Soon after his second submission, Markopolos traveled to Europe with Villehuchet to help get investors for an alternative product to Madoff that he'd developed for Rampart.
His father and two uncles once owned 12 Arthur Treacher's Fish and Chips restaurants in Maryland and Delaware. Jewish Journal (Swindler's List blog). A violation of the ethics rule took place if the friendship was concurrent with Kotz’s investigation of Madoff.
In his interview with Steve Kroft of 60 Minutes, Markopolos said the biggest warning he'd noticed during his initial 1999 analysis of Madoff was that he reported losing months only four percent of the time.
http://www.cbsnews.com/stories/2009/02/27/60minutes/main4833667.shtml.