Bernie Madoff

Definition

Former Chairman of NASDAQ that was accused in 2008 of swindling more than $50 billion from investors in a complex Ponzi scheme. The alleged scheme started to unravel in 2008 after the stock market declined substantially and investors made bulk withdrawal requests. Bernie Madoff plead guilty in 2009 and admitted to operating what will go down in history as the largest fraud scheme committed by a single individual.

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Berne Exchange (BX) mini-Madoff