[QODLink]
Inside Story
The Madoff scandal
How was Bernard Madoff able to pull off a 50 billion Dollar fraud?
Last Modified: 18 Dec 2008 12:24 GMT

Watch part two 

A 50 billion Dollar fraud - the latest blow to the financial world and one of Wall Street's biggest scandals.

Bernard Madoff, the man in question, makes the headlines as he faces allegations that his entire business was nothing more than a scheme to dupe investors.

The SEC, the Securities and Exchange Commision, in charge of overseeing dealings by people like Madoff admitted to its failure to spot his illegal transactions for many years.

Inside Story, with presenter Maryamme Nemazee, discusses the fallout of this scandal on Wall Sreet.

This episode of Inside Story aired on Wednesday, December 17, 2008 at 1730GMT with repeats at 2230GMT and on Thursday at 0430GMT and 0830GMT.

Source:
Al Jazeera
Topics in this article
People
Featured on Al Jazeera
Muslim volunteers face questioning and threat of arrest, while aid has been disrupted or blocked, charities say.
Six months on, outrage and sorrow over the mass schoolgirl abduction has disappeared - except for families in Nigeria.
ISIL combatants seeking an 'exit strategy' from Mideast conflict need positive reinforcement back home, analysts say.
European nation hit by a wave of Islamophobia as many young fighters join ISIL in Syria and Iraq.
Featured
Lack of child protection laws means abandoned and orphaned kids rely heavily on the care of strangers.
At least 25 tax collectors have been killed since 2012 in Mogadishu, a city awash in weapons and abject poverty.
Since she was 16-years-old, Scottish Nationalist Party's Sturgeon has strove for independence from the UK.
Armed group's ransom success with German hostages marks a re-emergence, as authorities investigate ISIL links.
Western nations are moving into the resource-rich country after decades of disinterest, challenging China's interests.