Boom!

The gavel fell heavily.

Bernard, who was standing on the judgment seat, looked blank.

The hoax, which lasted for decades, finally came to an end with his full confession.

The loss of $43.7 billion set a world record for a Ponzi scheme, and it also caused an uproar among the people who followed the matter through the media.

A flawless resume, a brilliant career experience, an impeccable character, a respected philanthropist, and impeccable investment skills......

As of a week before Bernard's surrender, the latest investment income announced by L Fund Company is as high as 5.6 per month, which is converted into an annual return of 67.2 percent, according to the interest rate of bank savings, handing over funds to Bernard for management means more than 50 times the super high return on savings, and it is no wonder that politicians, celebrities, and tycoons other than the Palm Beach Club will flock to it, and they never even ask where the funds are invested.

Of course, with the gradual unraveling of the case, the situation of more than 4,000 accounts has also been revealed, Bernard's clients include more than 30 international banks, more than 60 investment funds, six world-class well-known universities, and more than a dozen world-class billionaires who can enter the Forbes wealth list. Celebrities, before Bernard himself turned himself in, no one suspected that this was a scam, and no one thought that the money invested in L Fund would one day come to naught.

The trial was closed, but there were still many observers in the courtroom who claimed to be 'victims' and 'victims', but the victims couldn't help but make an uproar after Bernard took on all the charges, including securities fraud, mail fraud, telephone fraud, money laundering, false statements and perjury.

The 150-year prison sentence is no longer of much significance to the 68-year-old Bernard, he is bankrupt, he is in prison, he pleads guilty to the crime, but tens of billions of dollars have disappeared, and there are only less than 10 billion US dollars of financial assets left on the books of the L fund company, even if all his real estate, farms, yachts and everything will be confiscated and auctioned, but the loss of more than 40 billion US dollars is solid, and the residual value of the L fund company after its liquidation, At most, investors can recover less than half of the principal, and such a huge loss, whether it is a bank, an investment fund, or an individual, is unbearable.

The trial record at the end of April finally arrived in Hong Kong after many rounds, and Tang Yan thought about it for a long time after reading it, but she still couldn't suppress her curiosity. "How did you find out that Bernard was scamming?"

"How do you think that?"

"Say, say, I've been studying Bernard's case for several months, but in fact, his fraud methods are not clever, and it can even be said that it is full of flaws, investment banks and savings banks in Switzerland, Austria, the United Kingdom, the United States, France, world-renowned investment funds, and even Hollywood stars, the rich people in the United States, how can they be deceived for so long? No one can maintain such a high rate of return on funds at any time, and no one can guarantee that the rate of return will remain in a small range for so many years, are all investors, including investment banks, fools?"

Tang Yan's eyes were shining, full of curiosity and inquiry, Fu Zhengyi thought for a moment before asking. "Since you said you've been studying this case for a long time, have you found the answer?"

"In '99, a financial analyst questioned Bernard's 'spread execution conversion arbitrage strategy', and this person worked hard for many years, including warning the SEC on multiple occasions about Bernard's fraud, but unfortunately Bernard is still at large, and the regulators have not paid attention to it at all, and I am particularly surprised by this, financial regulators are always sensitive and suspicious of everything, and it stands to reason that they should not be so rash!"

Tang Yan's analysis is not unreasonable.

It's just that if you focus on the case itself, then you will naturally ignore some situations that should not be ignored, Fu Zhengyi picked up the printed trial record, found the sentence quoted by the judge, and said. "Well, this scam is a massive joint fraud that Bernard and his colleagues, family, friends, and investors unwittingly facilitated. This complicity further reinforces Bernard's investment myth. Bernard's blueprint to investors was unbelievable, and the others involved in the project were so unbelievable that he could not have made a promise. So, Bernard is a great magician, but it's a pity that he can't talk to him and explore what he thinks when he controls it all. ”

"Yes, no one can know what happened until the turmoil in this case subsides, in fact, when I was working at the New York Fund Company, Tony Sr. even asked me to analyze the investment philosophy of Bernard's L Fund and the high-return projects that it may hold for a long time, but the return on capital is as high as twenty or thirty per year, I don't think there is a market that can achieve such high yields other than the financial market, but unfortunately Bernard has not only bet on his own future and reputation, but even his personal wealth and that of his children, and I have heard that his youngest son tried to commit suicide and went from being rich to destitute all at once, and the courage to face it is not something that everyone has ......"

Tang Yan's emotion and sigh are not surprising.

As a top trader and a financial professional who receives options, the young and beautiful Tang Yan can be said to be the best among the diamond collars, but in the end, she is not very old and has limited life experience, so it is understandable that she cannot tolerate this kind of fraud in the financial industry.

"BOSS, do you really think that oil prices will not be repeated?"

Fu Zhengyi was thinking about it, Tang Yan's voice made him stunned for a moment before he realized what she was asking, and couldn't help laughing. "Will there be repetitions, you need to make the final judgment, if you have to ask my opinion on everything, then should you give me some of the options you are given?"

"BOSS, the key is that your request is too scary, placing such a heavy bet, if you make a mistake in judgment, it will be a loss of tens of billions of dollars......"

Tang Yan muttered and carefully observed his expression, but finally found that he really didn't seem to care about it, and couldn't help but pout......