On December 11, 2008, Bernard Madoff was arrested on charges based on fraudulent offerings of securities and investment advisory fraud which soon emerged to be the biggest fraud scheme in Wall Street history. The many victims of Madoff's Ponzi scheme included prominent New York financial figures, a number of celebrities, charities, and thousands of retirees who had invested their life savings into the trust they had in Madoff. “The Jewish Warren Buffet,” which was a name given to Madoff, described his scheme as a “fifty-billion dollar fraud.” Ultimately, his dealings involved no trades, no double digit returns, and went on for years fooling government regulators and financial experts. In efforts to keep the scheme afloat, of course, falsifying
