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NEW YORK (Reuters) – Investors scrambled to assess potential losses from an alleged $50 billion fraud by Bernard Madoff, a day after the arrest of the prominent Wall Street trader.

Prosecutors and regulators accused the 70-year-old former chairman of the Nasdaq Stock Market of masterminding a Ponzi scheme of epic proportions through his investment advisory business, which managed at least one hedge fund. Hundreds of people, investing with him through the firm's clients, entrusted Madoff with billions of dollars, industry experts said.

Tongue in cheek for the dimly lit. Be found with 5 oz of pot and get 10 yrs rip off people for $50 BILLION and get very little time...if history is the judge.
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