$BTC The largest fraud case in financial history: Bernie Madoff
This is considered the largest Ponzi scheme of all time, lasting more than 20 years until it was exposed in 2008.
• Damage: Estimated at around 64.8 billion USD based on the account balances of customers, with the actual direct losses of the victims being over 18 billion USD.
• Consequences: Thousands of individual investors, charities, and pension funds lost all their assets. Bernie Madoff was sentenced to 150 years in prison.
