madoffFormer NASDAQ Chairman Madoff Arrested for Massive Investment Fraud Scheme

A longtime Wall Street insider has been arrested on charges he was the mastermind of what federal investigators are calling the largest investment fraud scheme ever carried out by a single person. Bernard L. Madoff, 70, was charged in December 2008 with securities fraud in connection with a criminal operation that cost investors more than $50 billion, according to authorities. Madoff is the founder of Bernard L. Madoff Investment Securities LLC., a leading Wall Street securities firm, but the alleged …

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