120 years for NASDAQ fraud.

FBI agents arrested Bernard Meydoff a former chairman of the Nasdaq Stock Market on December 11, 2008. He is accused of creating the largest Ponzi scheme in the whole history.

Investors put about 50 billion of dollars into the Madoff Securities Company which were lost according to Mr. Meydoff.

There are about three million people in the fraud victim list and about hundreds of major financial institutions around the world claimed about the Mr.Meydoff pleaded guilty on

March 12, 2009 in 11 criminal charges including fraud and perjury. Attorneys asked 12 years of prison for Mr. Meydoff on June 23 but court sentenced him to 150 years of prison on June 29th.

29 July 2011
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