50 billion scheme

Some of the biggest and best-known names in global finance are calculating they may have lost nearly $2 billion in an alleged $50 billion pyramid scheme that led to the arrest of a New York financier last week. Bernard Madoff, a former chairman of the Nasdaq exchange market, was arrested on a single securities fraud charge, CNNMoney reports
http://money.cnn.com/2008/12/15/news/newsmakers/
Madoff_exposure/index.htm?postversion=2008121508