The Madoff Investment Scandal Wall Street money manager Bernard Madoff is sentenced to 150 years in prison for bilking investors in a massive Ponzi scheme. The fraud reverberated through the world of high finance and charitable foundations in the U.S. and abroad.
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The Madoff Investment Scandal
The case raised questions about why federal regulators didn't heed warning signs earlier.Bernie Madoff leaving U.S. District Court in Manhattan after a bail hearing in New York, Monday, Jan. 5, 2009. The former executive chairman of NASDAQ was sentenced to 150 years in prison in 2009 for his role in a massive Ponzi scheme. Kathy Willens/AP Photo hide caption
Author Alexandra Penney says she lost all of her savings in Bernard Madoff's investment scheme. Donna Svennevik/ABC hide caption