Top Hoaxes, Scams, Frauds, Flim-Flams or Conspiracies
Madoff Securities - $50 Billion Ponzi Scheme

Image posted by DGfromMTL

Bernard Lawrence "Bernie" Madoff founded the Wall Street firm Bernard L. Madoff Investment Securities LLC in 1960 and was its chairman until December 11, 2008, when he was charged with perpetrating what may be the largest investor fraud ever committed by a single person.He is under house arrest until his expected indictment, which has February 11, 2009 deadline.

On December 10, 2008 Madoff allegedly told his sons, Andrew and Mark, that the asset management arm of his firm was a giant Ponzi scheme--or "one big lie. ( Edited by DGfromMTL)

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I feel really bad for all the charities that lost money to this guy, and like every good cheater he really positioned himself well. He was an expert and was not greedy with his scam it was slow and efficient.
by ryankoziel 9 months ago