Bernard Madoff, the money manager accused of swindling investors in a $50 billion Ponzi scheme once boasted to the Securities and Exchange Commission about the money he made. He also formally advised the U.S. government on ways for investors to avoid falling victim to con artists.
The once well-respected Madoff was formerly a chairman of the NASDAQ Stock Market. He also had connections to the same Washington regulators charged with overseeing the operations of investment funds like the one Madoff operated. Madoff’s victims included big banks, and the rich and famous.
Source: http://www.breakinglegalnews.com/entry/Fund-manager-in-scandal-once-boasted-about-profits
