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29 Scams, Hoaxes and Frauds for Bernard Madoff Edit

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29 Scams, Hoaxes and Frauds for Bernard Madoff (CLUSTER)
 Published: Dec 14, 08
 Views: 11,181

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.

References:  trendhunter

Filed In:  business,  clusters






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29 Scams, Hoaxes and Frauds for Bernard Madoff