Definitions for madoff
mad·off

WikipediaRate this definition:0.0 / 0 votes

1. Madoff

   Bernard Lawrence Madoff ( MAY-dawf; April 29, 1938 – April 14, 2021) was an American fraudster and financier who was the mastermind of the largest Ponzi scheme in history, worth about $64.8 billion. He was at one time chairman of the NASDAQ stock exchange. He advanced the proliferation of electronic trading platforms and the concept of payment for order flow, which has been described as a "legal kickback". Madoff's firm had two basic units: a stock brokerage and an asset management business; the Ponzi scheme was centered in the asset management business. Madoff founded a penny stock brokerage in 1960, which eventually grew into Bernard L. Madoff Investment Securities. He served as the company's chairman until his arrest on December 11, 2008. That year, the firm was the 6th-largest market maker in S&P 500 stocks. While the stock brokerage part of the business had a public profile, Madoff tried to keep his asset management business low profile and exclusive. At the firm, he employed his brother Peter Madoff as senior managing director and chief compliance officer, Peter's daughter Shana Madoff as the firm's rules and compliance officer and attorney, and his now-deceased sons Mark Madoff and Andrew Madoff. Peter was sentenced to 10 years in prison in 2012, and Mark hanged himself in 2010, exactly two years after his father's arrest. Andrew died of lymphoma on September 3, 2014.On December 10, 2008, Madoff's sons Mark and Andrew told authorities that their father had confessed to them that the asset management unit of his firm was a massive Ponzi scheme, and quoted him as saying that it was "one big lie". The following day, agents from the Federal Bureau of Investigation arrested Madoff and charged him with one count of securities fraud. The U.S. Securities and Exchange Commission (SEC) had previously conducted multiple investigations into his business practices but had not uncovered the massive fraud. On March 12, 2009, Madoff pleaded guilty to 11 federal felonies and admitted to turning his wealth management business into a massive Ponzi scheme. The Madoff investment scandal defrauded thousands of investors of billions of dollars. Madoff said that he began the Ponzi scheme in the early 1990s, but an ex-trader admitted in court to faking records for Madoff since the early 1970s. Those charged with recovering the missing money believe that the investment operation may never have been legitimate. The amount missing from client accounts was almost $65 billion, including fabricated gains. The Securities Investor Protection Corporation (SIPC) trustee estimated actual losses to investors of $18 billion, of which $14.418 billion has been recovered and returned, while the search for additional funds continues. On June 29, 2009, Madoff was sentenced to 150 years in prison, the maximum sentence allowed. On April 14, 2021, he died at the Federal Medical Center, Butner, in North Carolina, from chronic kidney disease.

Surnames Frequency by Census RecordsRate this definition:0.0 / 0 votes

1. MADOFF

   According to the U.S. Census Bureau, Madoff is ranked #133048 in terms of the most common surnames in America.
   
   The Madoff surname appeared 127 times in the 2010 census and if you were to sample 100,000 people in the United States, approximately 0 would have the surname Madoff.
   
   96% or 122 total occurrences were White.

How to pronounce madoff?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say madoff in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of madoff in Chaldean Numerology is: 5

2. Pythagorean Numerology

   The numerical value of madoff in Pythagorean Numerology is: 9

Examples of madoff in a Sentence

1. Tucker Carlson:

   I know it's hard, but why don't we have a right to know? If there's a rapist on the loose, if you don't tell anybody, if Bernie Madoff rips you off and you don't tell his other investors, you're part of the problem, are you not? What am I missing?

2. Rebecca Jarvis:

   I've been covering business for more than a decade, from the housing collapse to the fall of Bear Stearns, to the Bernie Madoff scandal, but none of these comes even close to the mystery and intrigue of Elizabeth Holmes.

3. Kathy Bazoian Phelps:

   It has not slowed down even remotely since Bernie Madoff, it amazes me month after month the creative things that people come up with to defraud other people out of their dollars.

4. Steve Fishman:

   At one point, Bernie Madoff cornered the hot chocolate market, bernie Madoff bought up every package of Swiss Miss from the commissary and sold Swiss Miss for a profit in the prison yard. Bernie Madoff monopolized hot chocolate ! Bernie Madoff made Swiss Miss so that if you wanted any, you had to go through Bernie Madoff. Bernie Madoff, once the Nasdaq chairman, used Bernie Madoff reputation and savvy to dupe sophisticated investors, regulators and Wall Street banks. Bernie Madoff confessed in December 2008 that Bernie Madoff was running a multi decade Ponzi scheme and that more than $ 65 billion Bernie Madoff claimed to have on hand for investors had dwindled to a few hundred million dollars from an original investment of about $ 20 billion. Bernie Madoff pleaded guilty to fraud and is serving a 150-year prison sentence in Butner, N.C. Fishman reportedly hosts an Audible series called.

5. Brandon Sample:

   Bernard Madoff is a broken man, and had a lot of personal loss, that's not to diminish the impact of his crimes on his victims, but there are larger ideals at work when we consider whether to show compassion on someone in their final days.

Popularity rank by frequency of use

References

1. ^ Wikipedia
   https://en.wikipedia.org/wiki/Madoff
2. ^ Surnames Frequency by Census Records
   https://www.census.gov/topics/population/genealogy/data/2010_surnames.html