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  • Madoff Investors May Be Protected By Government

    12/16/2008 2:33:41 AM PST · by ninonitti · 46 replies · 1,667+ views
    NEW YORK (CBS) ^ | Dec 15, 2008 7:24 pm US/Eastern | John Slattery
    Judge Says Those Duped Need Aid Under The Securites Investor Protection Act ― Federal investigators remain at the investment offices of disgraced investor Bernard Madoff, scouring through records to learn the scope of what may be the biggest Ponzi scheme ever in the United States. The numbers are staggering, the losses far-reaching, but help may be on the way for investors thanks to an order for protection from a federal judge. The scheme was operated out of the so-called "Lipstick Building" on Third Avenue. Bernard Madoff Investment Securities LLC occupies three floors and may have bilked investors of $50 billion....