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What is Madoff Investment Scandal Overview about?

Bernie Madoff ran the largest Ponzi scheme in history through his investment firm. Over nearly 50 years, he defrauded thousands of investors out of $64.8 billion by fabricating investment returns and paying existing investors with money from new investors. Madoff pleaded guilty in 2009 and was sentenced to 150 years in prison. Several employees also faced criminal charges for their role in the massive fraud. The scandal devastated many victims and had widespread economic impacts.

Author

jemin

Language

EN