Bernard Lawrence Madoff died in prison. The financier was arrested and indicted by the FBI in December 2008, in the midst of a global financial crisis, for having carried out a gigantic “Ponzi scheme” type scam involving tens of billions of dollars. In 2009, he was sentenced to 150 years in prison. At the end of December 2008, our correspondent in California, Dominique Nora, recounted this colorful scandal. We republish his article here.
The Madoff earthquake
“Don’t ask, don’t tell. “ “ Don’t ask questions; don’t tell. This was the instruction that the discreet and prestigious New York wealth manager gave his clients. And they respected it to the letter, for over twenty years. Today [en décembre 2008, NDLR], however, there would be so much to tell! The 70-year-old financier, former president of technology stocks Nasdaq, was arrested Thursday, December 11, and then released on $ 10 million bail.
Bail with draconian conditions: he was placed under house arrest and forced to wear an electronic bracelet. It is not yet known what his sentence will be, but he will surely go down in history as one of the greatest crooks of all time. By his own admission, “Bernie” has lost … $ 50 billion dollars to hundreds of investors, including many friends and relatives.
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