Casualties mount as Madoff is placed under house arrest

Fri Dec 19, 2008

Details of the spectacular fraud allegedly perpetrated over many years by Bernie Madoff continue to unfold this week as Madoff was placed under house arrest.

Madoff, who ran Bernard L. Madoff Investment Securities, was arrested on December 11 after he allegedly confessed to running "a giant Ponzi scheme" that by his estimates totaled $50 billion.

The fraud, which lasted years, has had wide-ranging impacts on hedge funds,...

ISSN: 2151-1845 / CDC10004H

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