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Article: Impact of US bank 'fraud' deepens.
- Article from:
- Aljazeera.net
- Article date:
- December 17, 2008
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12/16/2008 10:15:57 AM
The number of people and institutions affected by an alleged $50bn investment fraud continues to grow in what may be one of Wall Street's biggest scams.
A number of Jewish charities were particularly badly affected by the alleged fraud by Bernard Madoff, a Wall Street money manager and former chairman of the Nasdaq stock exchange, reports on Tuesday said.
British, French, Japanese and Spanish banks and funds also said investments totalling billions of dollars could be wiped off their balance sheets.
The scandal has also affected some of the world's richest people.
According to The Wall Street Journal, ...