Effects of The Bernard Madoff Scandal
Jeopardized safety, health and well-being
Mark Madoff commits suicide
Humiliation
The corporate misconduct jeopardized the safety, health and well-being of the citizens who had enrolled on the investment scheme. A large number of people suffered financial harm due to the fraudulent financial reporting that led to the collapse of the firm (Gottschalk, 2013). Besides, Madoff son, Mark Madoff, committed suicide due to the humiliating nature of the scandal after it was televised. Evidently, white collar crimes have devastating effects on the lives of its victims.