Madoff - the Ultimate A-List Fraud

A fascinating feature article on the Madoff scandal in the Independent yesterday, which is well worth investing 10 minutes reading…

Amongst the revelations:

- Of the alleged $50bn (£35bn) Madoff milked from investors, a mere $1.2bn now remains - where has it gone (other than to pay annual returns to clients)?
- One of the victims (Stephen Greenspan) is author of a book titled “Annals of Gullibility: Why We Get Duped and How To Avoid It” (I know - we shouldn’t laugh)
- The long list of celebrity victims, including Steven Spielberg and Kevin Bacon

If there are any winners from the scandal, it appears to be the lawyers who are noe persuing a wide range of claims against investment advisers, banks, auditors and anyone else who can be alleged to have failed.