US - Blimey I glad I'm not a wealthy socialite!

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
13/12/2008 16:51

Some of America’s wealthiest socialites were facing ruin last night after the arrest of a Wall Street big hitter accused of the largest investor swindle perpetrated by one man.



Shock and panic spread through the country clubs of Palm Beach and Long Island after Bernard Madoff, a trading powerbroker for more than four decades, allegedly confessed to a fraud that will cost his wealthy investors at least $50 billion – perhaps the largest swindle in Wall Street history.



http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5333901.ece