The con man in the justice system
Bernie Madoff is the biggest con man
Bernard “Bernie” Madoff has been described as the largest investment fraud scheme – in history.
In March 2009, Madoff pleaded guilty to 11 federal crimes and admitted to turning his wealth management business into a massive Ponzi scheme that defrauded thousands of investors of billions of dollars.
Madoff said he began the Ponzi scheme in the early 1990s. However, federal investigators believe the fraud began as early as the 1980s, and that the investment operation may never have been legitimate
The amount missing from client accounts, including fabricated gains, was almost $65 billion.
The court-appointed trustee estimated actual losses to investors of $18 billion.
On June 29, 2009, he was sentenced to 150 years in prison, the maximum allowed.
Trust is a paradox, isn’t it?
Bernie Madoff
Agusta Sister
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