Madoff - "Made off" with $50bn
The link is to a list of organisations (people) who have lost in the Madoff Ponzi Scheme.
There is an important principle to remember in financial services (and life generally) which is that if something is "too good to be true", then most likely it either isn't good or it isn't true.
This was one that wasn't true.
I am surprised that this was not picked up by the SEC, however.
This one will reverberate a bit. Some of the people who have sent money his way have then benefited by also reporting high returns - that are not real returns.