Report: Madoff fraud goes back to 1970s, with 4,000 customers

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.”

Read the Bloomberg article

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