Former Nasdaq chairman charged with fraud

December 12, 2008 by frankls
Filed under: Hot Topics

Former Nasdaq chairman charged with fraud
Former Nasdaq chairman Bernard Madoff was arrested Thursday and charged with a single count of securities fraud for allegedly operating a multibillion-dollar Ponzi scheme from his investment advisory business, federal authorities said.

Madoff, 70, operated the advisory business separately from his Bernard L. Madoff Investment Securities, a securities broker dealer with its principal office in New York City, the Department of Justice said.
A source with knowledge of the investigation told CNN that Madoff appeared in court Thursday and bail was set at $10 million bond. The bond was signed and Madoff was released.

Continued here Former Nasdaq chairman charged with fraud – CNN.com

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