More Bernie Maddof Ponzi Scheme Arrests Coming: Ten or More

June 30, 2009

(ChattahBox)—Sources close to the investigation surrounding the ponzi scheme headed by convicted swindler, Bernie Maddof, say the investigation is ongoing to find accomplices and more arrests are expected within the next several months, of 10 or more people.

Bernie Madoff, 71-years-old was just sentenced to an unprecedented 150 year prison term, after pleading guilty to all the swindling charges in a massive ponzi scheme that amounted to $65 billion.

Besides Madoff, the only other person charged in the scheme to date, is Madoff’s accountant, David Friehling.

The so-called feeder funds involved in the ponzi scheme are of particular interest to investigators and are already facing trustee lawsuits. Investigators are also expected to probe deeper into the inner workings of the invevestment side of Madoff’s firm that controlled the ponzi operations.

FBI sources say they are just beginning these additional investigations and any arrests are months away.



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