The Greatest lost money in the world.

Bernard Madoff or they called Bernie, the 70 y.o financier was once chairman of Nasdaq Exchange - a symbol of Wall Street ( centre of financial world ) could get up 150 years in prison, this Jewish guy was ruined thousands of victims included individuals, trusts, pension funds, hedge funds and non profit organizations, he wiped out people's life savings, damaged charities and foundations and apparently pushed at least 2 investors to commit suicide.

Investors big and small were swindled from retirees to celebrities as Steven Spielberg ( Jurassic Park film maker ), actor Kevin Bacon, Hall of Fame pitcher Sandy Koufax, etc. included Nobel Peace Prize Winner and Holocaust survivor Elie Wiesel.

He began a Ponzi scheme ( Charles Ponzi, an Italian immigrant in 1920s - died broke ), a Pyramid money game, in which early investor are paid off with money taken in from later ones.
Prosecutors said his low level employees in Madoff's New York offices participated by mailing out tens of thousands of phony monthly statements and trading confirmations to make it look as if customers were making money in the market, prosecutors put the amount of the fraud at $ 64,8 billion. So far authorities have located only $ 1 billion for investors.

Where's the money then ?, some investors suspect their money ended up in the hands of Madoff's wife, Ruth.

" I realized that my arrest and this day would inevitably come, I'm actually grateful for this opportunity to publicly comment about my crimes, for which I am deeply sorry and ashamed, " Madoff said.
This financial scandal broke in early December 2008 and the courthouse is in lower Manhattan New York, he was taken to the Metropolitan Correctional Center across the street where he will be held until sentencing.