AP News

News Summary: Madoff fraud's last days recounted


FRAUD'S FINALE: A newly rewritten indictment this week has revealed details of the final days of Bernard Madoff's Ponzi scheme, which authorities say cost investors an estimated $17.3 billion.

SHARPER FOCUS: The indictment brings into sharper focus the final few years of a fraud the government says dated to at least the early 1970s, two decades before Madoff claimed it began and well before 1992, when the government originally said the conspiracy began.

SOPHISTICATED SCHEME: It portrays a private investment business in Manhattan where as many as a dozen officers grew a fraud so sophisticated that repeated probes by the Securities and Exchange Commission and queries from banks and investors could draw no blood.


The Good Business Issue
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus