Question

What is the main difference in the lack of asset forfeiture between Bernard Ebbers and Bernard...

What is the main difference in the lack of asset forfeiture between Bernard Ebbers and Bernard Madoff?

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Answer #1

Bernard Ebbers was co-founder & CEO of WorldCom and a fraudster. His fraud was related with accounting irregularities and he did one of the biggest accounting scandals in U.S. history. His firma admitted accounting mismanagement fraud of $3.9 billion in accounting and filed bankruptcy whereas the fraud was eventually figured out as $ 11 billion.    

Bernard Madoff was former non-executive chairman of NASDAQ. He did biggest financial fraud in U.S. history related with Ponzi Scheme. He did fraud to the worth of $64.4 billion belongs to 4800 clients.

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