Madoff: In my own words

Charles C. (United States of America)
10 words 43 learners

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Full list of words from this list:

words only definitions & notes
  1. client
    someone who pays for goods or services
    When I began the
    Ponzi scheme I believed it would end shortly and I would be able to extricate myself and my
    clients from the scheme.
  2. bank account
    a fund that a customer has entrusted to a bank and from which the customer can make withdrawals
    Instead, those funds were deposited in a bank
    account     at Chase Manhattan Bank.
  3. investment
    laying out money or capital in an enterprise
    Your Honor, for many years up until my arrest on December 11, 2008, I operated a Ponzi scheme
    through the investment advisory side of my business, Bernard L. Madoff Securities LLC, which
    was located here in Manhattan, New York at 885 Third Avenue.
  4. fraudulent
    intended to deceive
    Nevertheless, to support my false claim that I purchased and sold securities for my investment
    advisory clients in European markets, I caused money from the bank account of my fraudulent
    advisory business, located here in Manhattan, to be wire transferred to the London bank account
    of Madoff Securities International Limited.
  5. financial statement
    a document showing credits and debits
    Another way that I concealed my fraud was through the filing of false and misleading certified
    audit reports and financial statements with the SEC. I knew that these audit reports and financial
    statements were false and that they would also be sent to clients.
  6. knowingly
    with full understanding or intention
    Indeed, when the United States Securities and
    Exchange Commission asked me to testify as part of an investigation they were conducting about
    my investment advisory business, I knowingly gave false testimony under oath to the staff of the
    SEC on May 19, 2006 that I executed trades of common stock on behalf of my investment
    advisory clients and that I purchased and sold the equities that were part of my investment
    strategy in European markets.
  7. legitimate
    in accordance with accepted standards or principles
    I want to emphasize today that while my investment advisory business — the vehicle of my
    wrongdoing — was part of my firm Bernard L. Madoff Securities, the other businesses my firm
    engaged in, proprietary trading and market making, were legitimate, profitable and successful in
    all respects.
  8. fraud
    intentional deception resulting in injury to another person
    As I
    engaged in my fraud, I knew what I was doing was wrong, indeed criminal.
  9. falsely
    in an insincerely false manner
    I therefore claimed that I employed an investment strategy I had
    developed, called a "split strike conversion strategy," to falsely give the appearance to clients that
    I had achieved the results I believed they expected.
  10. misrepresent
    describe or present falsely
    To conceal my fraud, I misrepresented to clients, employees and others, that I purchased
    securities for clients in overseas markets.
Created on 十二月 20, 2010

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