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Admitting a Ponzi Scheme

Aggie Kenny

Admitting a Ponzi Scheme

Bernard Madoff pleaded guilty Mar. 12 to running a massive Ponzi scheme that could have cost investors as much as $65 billion. Prosecutors say the disgraced financier, who has spent three months under house arrest in his $7 million Manhattan penthouse, could face a maximum term of 150 years in prison at sentencing June 16. Here are some scenes from the plea hearing.

Business Exchange related topics:
Bernard L. Madoff
Ponzi Scheme
Investment Schemes