Billions lost in one of Wall Street’s biggest swindles

BERNARD Madoff’s giant Ponzi scheme lost investors billions of dollars in one of the largest frauds in Wall Street history.

The former chairman of New York’s Nasdaq stock exchange, who presented himself as a champion of transparency and integrity, told a court in March he was “sorry and ashamed” about his actions as he pleaded guilty to masterminding the scam.

His 4,000-plus investors included friends and financial giants.