name was legendary. Now i成人圖片t is infamous.
With mo成人圖片ney Bernard L. Madoff had ea成人圖片rned as a lifeguard on th成人圖片e beaches of Long Island, he成人圖片 built a trading powerhous成人圖片e that had prospered for m成人圖片ore than four decades. At ag成人圖片e 70, he had become an inf成人圖片luential spokesman for the traders who are the hidden gears of the marketplace.
But on Dec. 12, 2008, Mr. Madoff, a consummate trader, was arrested at his Manhattan home by federal agents who accused him of running a multibillion-dollar fraud scheme — perhaps the largest in Wall Street’s history.
The single count of securities fraud carries a maximum penalty of 20 years in prison and a maximum fine of $5 million.
Regulators have not yet verified the scale of the fraud. But the criminal complaint filed against Mr. Madoff (pronounced MAY-doff) in federal court in Manhattan reports that he estimated the losses at $50 billion.(五百億)
He left a zigzagged path of financial destruction across the world, from HSBC bank to BNP Paribas, to industry leaders and celebrities in the United States, from Elie Wiesel, the Hollywood director Steven Spielberg and the publisher Mortimer B. Zuckerman. The Wilpon family, the owners of the Mets, were investors, as had been the family real estate business of former New York governor Eliot Spitzer.
R. Thierry Magon de la Villehuchet a prominent hedge fund manager who apparently had lost $1.4 billion with Mr. Madoff, was found dead in his office on Madison Avenue on Dec. 22. The evidence pointed to suicide, the police said.
According to the most recent federal filings, Bernard L. Madoff Investment Securities operated more than two dozen funds overseeing $17 billion.
These funds have been widely marketed to wealthy investors, hedge funds and other institutional customers for more than a decade, although an S.E.C. filing in the case said the firm reported having 11 to 23 clients at the beginning of 2008.
The Madoff funds attracted investors with the promise of high returns and low fees. One of Mr. Madoff’s more prominent investors, the Fairfield Sentry fund, reported having $7.3 billion in assets in October 2008 and claimed to have paid more than 11 percent interest each year through its 15-year track record. Angry victims began to charge that funds like Fairfield, which had built profitable businesses through providing access to Mr. Madoff’s investment vehicle, had failed to perform proper due diligence.
Founded in 1960, by the early 1980s, Mr. Madoff’s firm was one of the largest independent trading operations in the securities industry. The company had around $300 million in assets in 2000 at the height of the Internet bubble and ranked among the top trading and securities firms in the nation.
Mr. Madoff ran the business with several family members, including his brother Peter, his nephew Charles, his niece Shana and his sons Mark and Andrew. None of his family members has been charged.
Mr. Madoff was put under 24-hour house arrest as part of his bail agreement. Mr. Madoff was ordered to remain at his apartment on East 64th Street in Manhattan, wear an electronic monitor and was to be allowed to leave his apartment only for scheduled court appearances.
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