Friday, December 12, 2008

Madoff Turned in by Sons After Confessing $50 Billion Fraud

Madoff Turned in by Sons After Confessing $50 Billion Fraud


By David Voreacos and David Glovin

Dec. 12 (Bloomberg) -- Bernard Madoff’s sons turned him in to U.S. authorities after he confessed to them that his investment advisory business was “a giant Ponzi scheme” that cost clients $50 billion, a lawyer for the brothers said.

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