In 2008, Bernie Madoff was arrested for running a hedge fund that turned out to be the largest ponzi scheme the world had ever seen. After more than a decade of operation, the amount of money missing from client accounts amounted to almost US$65bil.
Even more amazingly, suspicious deficiencies in the scheme had been identified as early as in the year 2000, and its allegations were made known over to the US Security Exchange Commission (SEC). But it took eight years before Madoff was put under arrest.
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