Some of America’s wealthiest socialites were facing ruin last night after the arrest of a Wall Street big hitter accused of the largest investor swindle perpetrated by one man.
Shock and panic spread through the country clubs of Palm Beach and Long Island after Bernard Madoff (pronounced made - off), a trading powerbroker for more than four decades, allegedly confessed to a fraud that will cost his wealthy investors at least $50 billion – perhaps the largest swindle in Wall Street history.
Update: The list, so far.
1 comment:
Why can't people get it through their over educated heads that if you are getting a return above everyone else, and it can't be explained in understandable terms, it is ALWAYS, ALWAYS either illegal or a scam of some sort. Just because you are human does not mean you should be taken advantage of, but if you put your hand in a fire you WILL get burned. It seems so simple. NO FREE LUNCH.
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