Saturday, December 13, 2008

Fraud of epic proportion

Investors scrambled to assess potential losses from an alleged $50 billion fraud by Bernard Madoff, a day after the arrest of the prominent Wall Street trader.

Prosecutors and regulators accused the 70-year-old, who was chairman of the Nasdaq Stock Market in the early 1990s, of masterminding a fraud of epic proportions through his investment advisory business, which managed at least one hedge fund.


http://finance.yahoo.com/news/Madoff-alleged-50-billion-rb-13819411.html


Batteries dying, be back on this later.

2 comments:

Sra. Madera said...

Amazing and sad.

Jeana said...

Our enemies are leading the country and are swindling us with impunity. Hold on, this is going to be a rough ride.