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50 Billion Dollar Investment Fraud: World's Biggest

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The Financial Times has been covering this story almost by the hour: Investment adviser Bernard Madoff, founder of Bernard Madoff Investment Securities, was charged with securities fraud on Thursday. It has since come out that those he hoodwinked include HSBC and other European banks (http://www.ft.com/cms/s/0/2b38a296-cadc-11dd-87d7-000077b07658.html), not to mention raising major questions about the U.S. Securities and Exchange Commission, which is in charge of oversight and regulation of the financial sector.

Posted on  Monday, December 15, 2008By m.erickson
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Source: http://www.ft.com
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