Market Features
Madoff Charged With Securities Fraud: Reports
Bernard Madoff, a long-time Wall Street figure whose firm acts as a market maker for institutional clients, has been charged with securities fraud, according to published reports Thursday.
His firm was the 23rd-biggest market maker on the Nasdaq in October, Bloomberg reported. Madoff was charged by federal prosecutors in New York, Bloomberg and The Wall Street Journal reported. Bloomberg said the fraud totaled $50 billion. The Journal said the activity in question "involved tens of billions of dollars." The Journal said the complaint against Madoff alleges he told some workers his operation was "a giant Ponzi scheme." The report cited a person who was aware of the situation.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
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| 12,393.45 | 1,310.33 | 2,827.34 | 15.81 |
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