$
50 bn. fraud-rich Madoff firm to be sold off
US
authorities said Monday they were liquidating
Bernard L. Madoff Investment Securities LLC
of New York, following his arrest for alleged
fraud to the tune of 50 billion dollars.
The Securities Investor Protection Corporation
(SIPC), which provides a Congress-authorized
special reserve fund to help investors at failed
brokerage firms, said it was liquidating the
Madoff company.
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