Monday, December 22, 2008
BERNARD MADOFF ARRESTED FOR FEDERAL SECURITIES LAWS VIOLATIONS
According to the New York Times, Bernard Madoff was arrested December 12, 2008 and was charged with federal securities laws violations. Mr. Madoff had been running a multibillion-dollar pyramid scheme through Bernard L. Madoff Investment Securities which could possibly be the largest scam in Wall Street’s history. According to the criminal complaint filed, the estimated losses total $50 billion.
