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69. The Scheme (Bernie Madoff)
Swindled
Burney Madolf's Order Flow
Madolf securities was responsible for processing ten per cent of all trades on the new york stock exchange. Madolf paid firms a few cents of each transaction to trade. Through him paying for this order flow reduced its profit margin, but massively increased his trade volume. The practice was considered by some to be a legal kick back or a bribe.
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