On the fifth anniversary of Bernard Madoff's arrest, see some of the pension funds and university endowments that had invested in his massive Ponzi scheme.
Madoff scandal history
Investors in Bernard L. Madoff Securities LLP lost billions of dollars in Bernard Madoff’s Ponzi scheme. When Mr. Madoff was arrested on Dec. 11, 2008, the amount missing from customer accounts (including fabricated gains) was about $65 billion. Investors’ actual losses totaled $18 billion, the court-appointed trustee estimated. Mr. Madoff eventually pleaded guilty, and was sentenced to 150 years in prison.