Madoff's operations 'just one big lie

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Bernard Madoff is charged with running a "giant Ponzi scheme" which lost investors up to £33 billion in what could be one of the largest fraud schemes in Wall Street history.

The former chairman of New York's Nasdaq stock exchange, who presented himself as a champion of transparency and integrity, told his employees that his operations were "all just one big lie", according to court documents.

The criminal in