28 Scams, Hoaxes And Frauds For Bernard Madoff

By: Jeremy Gutsche - Published: Dec 14, 2008
Bernard Madoff, founder of Bernard L. Madoff Investment Securities was arrested for his creation of a $50 billion dollar pyramid scheme.  Essentially, Bernard Madoff was operating a ponzi scheme that tricked small investors and commercial banks.  Even Geneva-based banks lost more than $4 billion in Madoff’s scheme. 

Bernard Madoff isn’t the first investor to pull off a massive pyramid scheme, but with $50 billion he’s probably the most ‘accomplished’ in his art of trickery.

On this occasion, we’re featuring 29 other spectacular scams, hoaxes and frauds. Stats for 28 Scams, Hoaxes and Frauds for Bernard Madoff Trending: Older & Average
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