Bernie Madoff Ponzi Scheme

Bernie Madoff’s Ponzi scheme remains the largest investment fraud in history, stealing $65 billion from charities, retirees, and hedge funds over decades. Unlike #6 WorldCom’s $11 billion accounting fraud, Madoff’s operation required no complex entries—just fabricated returns that collapsed when 2008 withdrawals surged. More devastating than the average corporate scandal, it wiped out entire foundations and life savings, with 4,800 victims identified.