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High-Tech Execs Victims Of Madoff's Ponzi Scheme
Madoff was accused of one count of securities fraud after authorities said he admitted to running a scheme over many years with losses of $50 billion.
By W. David Gardner
InformationWeek
February 9, 2009 12:21 PM
Some of the best and brightest of the computer and high-tech industries got caught in the Ponzi scheme operated by Bernard L. Madoff.
Madoff's customer list has been made public and it includes the names of some successful high-tech figures, some of them industry legends.
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Madoff was accused of one count of securities fraud after authorities said he admitted to running a scheme over many years with losses of $50 billion, which would be the biggest fraud in Wall Street history.
Roger Marino -- the "M" in EMC Corp (NYSE: EMC). -- said he lost "a lot of money" investing in Madoff's scheme. He told the Boston Globe that the Madoff scandal was "unfathomable" and he indicated he couldn't see how it could have been discovered before it became public that Madoff had swindled investors. Marino invested over a period of 10 years.
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