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Professional Liability Blog

We explore and analyze current issues and relevant topics to help accountants, attorneys, architects and engineers, insurance agents and real estate brokers avoid a professional liability case.

Professional Liability Blog
April 12, 2015

Bernie Madoff Strikes Again: the Lasting Consequences of His Ponzi Scheme are Still Being Felt

The “Bernie Madoff Scandal” broke on December 11, 2008, when the FBI arrested the eponymous chairman of Bernard L. Madoff Investment Securities LLC (“BLMIS”), and charged him with one count of securities fraud. He later pled guilty to 11 counts of securities fraud. Seven years later, the effects of his Ponzi scheme, believed to be the largest in U.S. history, are still being felt as court rulings on the matter continue to come down.