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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.
According to the original federal charges, Madoff said that his firm had liabilities of approximately US$50 billion. Prosecutors estimated the size of the fraud to be $64.8 billion, based on the amounts in the accounts of Madoff's 4,800 clients as of November 30, 2008.