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article imageMap Pinpoints Bernie Madoff Victims

By Blake Hanson     May 27, 2009 in Internet
Though MadoffMap.com offers what may seem a comical use of Google Maps, it demonstrates the severity in which Bernie Madoff damaged many economically.
MadoffMap.com offers a visual of the damage caused by Bernie Madoff, and his clients that were hurt from his Ponzi Scheme. The sight contains a searchable index of 10,000 victims according to Google Maps Mania .
The $50 billion dollar fraud operation ran by businessman Bernie Madoff of Bernie L. Madoff Investment Securities LLC, was widely reveled as the largest investment fraud case in the history of the U.S.. Madoff took in investor's money and promised to invest that money in securities, when in reality Madoff had transferred all of the money into Chase Manhattan Bank. When investors wished to withdraw their profits, Madoff simply drew money from the group account at Chase Manhattan Bank.
Madoff's process can be identified as a 'Ponzi Scheme' and took advantage of a number of individuals, firms and charitable organizations before authorities arrested Madoff on December 11, 2008, as noted on FindLaw.com.
Madoff decreed in his Plea Allocution that he felt responsible for satisfying his clients that were trying to outperform the market. In order to beat out other investors he gave his clients whatever money they projected to have received, therefore dipping into other's investments.
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