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In the News Madoff Saga
October 29, 2009
One of 16 clips we offer from correspondent Martin Smith's juicy interview with Michael Bienes.
As far back as the late '60s, Bienes and his partner recruited investors for Madoff. By the time the SEC shut them down for being unlicensed (1992), they had 3200 clients with $441 million invested with "Bernie." When many of those clients then decided to set up individual accounts with Madoff, that sparked the expansion of Madoff's massive fraud, according to the SEC's ongoing investigation.
After viewing this clip, you'll want to sample the rest.