From Jeannine - Madoff fraud? HSBC takes 1.1 billion loss.
- Jim Costa
- 3 hours ago
- 1 min read
From the Luxembourg Times.
Why so long, though? Have they been lying to the shareholders?
SEE:
Bernard Lawrence Madoff (/ˈmeɪdɔːf/ MAY-dawf;[2] April 29, 1938 – April 14, 2021) was an American financial criminal and financier who was the admitted mastermind of the largest known Ponzi scheme in history, worth an estimated $65 billion.[3][4] He was at one time chairman of the Nasdaq stock exchange.[5] Madoff's firm had two basic units: a stock brokerage and an asset management business; the Ponzi scheme was centered in the asset management business.
The Above was discovered in 2008.
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