Ethics Series Features Insider’s View of the Madoff Scandal
Milwaukee -- Frank Casey, President of Fortune-USA, will provide an “Insider’s View of the Madoff Scandal” at the Business Ethics Speaker Series, sponsored by the M&I Marshall & Ilsley Center for Business Ethics at UWM’s Lubar School of Business.
The event takes place on Tuesday, September 29, 2009, from 12 noon-1:30 p.m. at the Pfister Hotel.
In 2000 Casey, along with colleagues Harry Markopolos and Neil Chelo of Rampart Investments, discovered the massive Ponzi scheme masterminded by former NASDAQ chairman Bernard Madoff. For a period of nine years, Markopolos dogged the U.S. Securities and Exchange commission with detailed information about the fraud. Yet the SEC took no action until the scheme collapsed in late 2008 and Madoff pleaded guilty to defrauding investors worldwide of over $50 billion. He was sentenced in June to 150 years in prison.
Casey will share the inside story of how he and his colleagues exposed the Ponzi scheme and how their efforts to draw regulatory attention to the matter went unanswered. He will examine why due diligence by regulators and hedge funds failed, suggest what needs to be done to prevent the situation from repeating itself, and discuss lessons we can all learn from the Madoff scandal.
The M&I Marshall & Ilsley Center for Business Ethics produces the Business Ethics Speaker Series to engage students, faculty, alumni, and the business community in thought-provoking dialogue about ethical issues in business.
To register, please visit
www.lubarevents.uwm.edu or call (414) 229-3835.
The $40 registration fee includes lunch.
