The SEC has reportedly found evidence that Bernard Madoff’s alleged $50 billion fraud may stretch back to at least the 1970s, and that his investment advisory business may have had more than 4,000 customers. Although an advisory unit Madoff registered with the SEC claimed in a January filing to have no more than 25 clients, “people familiar with the probe said… he also ran a secret unregistered business.”
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[...] Capital] Madoff fraud may date to 1970s, maybe “recent laxity” angle has been overdone [Securities Docket] “Ponzi crawl” = pub crawl whereby new person is added at each location and has to buy [...]