Historiens största hedgefondbluff. 50 miljarder USD borta

Pyramidschema avslöjat I hedgefond. Andra investerare hade legat på SEC i 9 år om att kolla upp Madoff men utan åtgärd från myndigheterna – precis som i fallet Einhorn/Allied Capital

Both complaints say Mr. Madoff told his sons he believed losses from his fraud exceeded $50 billion.

An executive in the securities industry, Harry Markopolos, contacted the SEC's Boston office in May 1999, urging regulators to investigate Mr. Madoff. Mr. Markopolos continued to pursue his accusations over the past nine years, he said in an interview on Thursday, and according to documents he sent to the SEC that were reviewed by The Wall Street Journal.

Läs Wall Street Journal idag

Bernard L. Madoff, a former chairman of the Nasdaq Stock Market and a force in Wall Street trading for nearly 50 years, was arrested by federal agents Thursday, a day after his sons turned him in for running what they said their father called "a giant Ponzi scheme."

The Securities and Exchange Commission, in a civil complaint, said it was an ongoing $50 billion swindle, and asked a judge to seize the firm and its assets. "Our complaint alleges a stunning fraud that appears to be of epic proportions," said Andrew M. Calamari, associate director of enforcement in the SEC's New York office.

Madoff hittade på stabil positiv månadsavkastning och utnyttjade inflöde i fonden för att betala till kunder som löste in andelar. I verkligheten gjorde han förlustaffärer eller inga affärer alls men tog performance fee på den fejkade avkastningen. Det verkar som om alla pengarna är borta, vilket innebär 50 miljarder dollar för kunderna och vore historiens största pyramidbluff (Ponzi)