Four years ago today, news of Bernard Madoff’s Ponzi scheme shocked the world. The fallout from the revelation was massive. Within months, Madoff pleaded guilty to orchestrating the largest fraud in Wall Street’s history for which he received a 150-year sentence. Critics skewered the Securities and Exchange Commission for failing to uncover the scheme despite a number of red flags while pundits wondered how one of Wall Street’s most respected money managers with an elite clientele managed to perpetrate the Ponzi scheme for so many years. Read more in Forbes here.
