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More arrests on way over Madoff scandal

30 Jun 2009


Ten or more people associated with fraudster extraordinaire Bernie Madoff could be arrested and charged over their role in the scandal, it emerged today.

One day after Madoff was sentenced to 150 years in prison for masterminding a Ponzi scheme that duped investors over many decades, the FBI indicated the case is far from finished.

So far the only other person charged is Madoff's accountant, who was arrested in March and accused of failing to make basic auditing checks.

There was speculation tonight the FBI could be targetting Madoff's two sons or even his wife.

His immediate family claims to have been shocked by the scandal, saying they too were dupes of what may be the biggest fraud in history.

Madoff ran his scam from an office in Manhattan. Investors included many of New York's high society as well as actors such as Kevin Bacon.

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