$65.00B
Involved
Madoff Ponzi Scheme
🇺🇸
United States
ponzi scheme
Convicted
Date Discovered
December 11, 2008
Organization
Bernard L. Madoff Investment Securities LLC
Victims
37,000
Perpetrators
Bernard Madoff
Legal Outcome
Madoff sentenced to 150 years in prison. Died in prison in 2021.
Economic Impact
Largest Ponzi scheme in history. $65 billion in claimed losses. Numerous charities and foundations devastated.
Regulatory Changes
SEC reform, enhanced fraud detection, stricter custody rules for investment advisors.