"As a partridge that broods but does not hatch,
So is he who gets
riches, but not by right;
It will leave him in the midst of his days,
And at his end he will be a fool."
Jeremiah 17:11
Some of America’s wealthiest socialites are facing ruin after the arrest of a Wall Street big hitter accused of the largest investor swindle perpetrated by one man.
Shock and panic spread through the country clubs of Palm Beach and Long Island after Bernard Madoff, a trading powerbroker for more than four decades, allegedly confessed to a fraud that will cost his wealthy investors at least $50 billion – perhaps the largest swindle in Wall Street history.
One investor told The Wall Street Journal: "This is going to kill so many people. It’s absolutely awful." Ira Roth, from New Jersey, said that his family had $1 million invested, and that he was in a state of panic.
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