Jeremy Gutsche — December 14, 2008 — Top Lists
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.
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.
4.8
Score
Popularity
Activity
Freshness
