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Madoff Scandal: The Final Minions Meet Their Fate. After more than six years and 15 convictions, the Bernie Madoff Ponzi scheme, which cost his investors an estimated $50 billion, is finally coming to close. Continue Reading Below.
Ripped Off By Madoff. Bernie Madoff, 70, is accused of defrauding investors of more than $50 billion in a. decades-old Ponzi scheme. Although banks and hedge funds suffered the heaviest losses, many famous. faces and their charities also were hit hard.