Madoff Havoc on Wall Street..

Bernard Madoff, the 70 year Wall Street Veteran will be known as the one of the biggest fraudster in the years to come. The guy which was one of the renowned figure in the US banking Industry had created a mess and hurt the reputation of US financial firms which will take years to rectify it. According to market analyst, the investors who had invested into Madoff's so called Ponzi schemes may be ripped up of more than 5obn$, thus making this as one of the biggest financial fraud of its time.

Some of the biggest names which burnt their hands in this fraud are, HSBC , BNP Paribas, Royal Bank of Scotland. Even the Banco Santander, the largest bank in the euro zone, lost a fare amount of money in this fraud.

In this difficult financial year, which saw some of the greatest banking failure, this is the last thing which investors expected.

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Thanks&Regards,
Mohit Kumar