Advertisement

On This Day: Bernie Madoff arrested for $50B ponzi scheme

On Dec. 11, 2008, Bernard Madoff, an investment manager, was arrested and charged with defrauding clients of up to $50 billion in what may have been the largest swindle in Wall Street history.

By UPI Staff
On December 11, 2008, Bernard Madoff, an investment manager, was arrested and charged with defrauding clients of up to $50 billion in what may have been the largest swindle in Wall Street history. File Photo by Monika Graff/UPI
1 of 5 | On December 11, 2008, Bernard Madoff, an investment manager, was arrested and charged with defrauding clients of up to $50 billion in what may have been the largest swindle in Wall Street history. File Photo by Monika Graff/UPI | License Photo

Dec. 11 (UPI) -- On this date in history:

In 1816, Indiana joined the United States as its 19th state.

Advertisement

In 1936, Britain's King Edward VIII abdicated to marry American divorcee Wallis Warfield Simpson. His brother succeeded to the throne as King George VI.

In 1941, four days after Japan attacked Pearl Harbor, Germany and Italy declared war on the United States.

In 1946, UNICEF was established.

In 1951, Joe DiMaggio announced his retirement from baseball.

UPI File Photo

In 1964, Ernesto "Che" Guevara addresses the United Nations General Assembly.

In 1972, Apollo 17 landed on the moon. It was the final Apollo lunar landing. Ron Evans was the command module pilot and Eugene Cernan and Harrison Schmitt walked on the surface during the mission. Cernan was the last to re-enter their lunar module -- the last man on the moon.

In 1984, a nativity scene was displayed near the White House for the first time since courts ordered it removed in 1973.

In 1994, up to 40,000 Russian troops invaded Chechnya, a semi-autonomous Republic on Russia's border with Georgia, to put down a secessionist rebellion.

Advertisement

In 1995, two Japanese cult members admitted they released toxic sarin gas in Tokyo subway trains that killed 12 people in March.

In 2001, the United States filed its first charges in the Sept. 11 terrorist attacks, accusing Zacarias Moussaoui, a French citizen of Moroccan descent, of conspiring with others to carry out the assault.

In 2004, Vienna doctors treating the mystery illness of Ukrainian opposition leader Viktor Yushchenko determined he was poisoned with dioxin while campaigning for president.

File Photo by Sergey Starostenko/UPI

In 2006, Jewish groups worldwide expressed anger as Iran opened a two-day conference in Tehran to determine if the Holocaust was reality or myth.

In 2008, Bernard Madoff, an investment manager, was arrested and charged with defrauding clients of up to $50 billion in what may have been the largest swindle in Wall Street history. U.S. Securities and Exchange Commission officials said he ran a multibillion-dollar Ponzi scheme. In June 2009, Madoff was sentenced to 150 years in prison.

In 2010, police said Mark Madoff, the 46-year-old eldest son of convicted multibillion-dollar Wall Street swindler Bernard Madoff, hanged himself in his New York apartment on the second anniversary of his father's arrest.

Advertisement

In 2017, Akayed Ullah detonated a pipe bomb in a subway near New York City's Port Authority, injuring four people. He was found guilty on weapons and terrorism charges.

File Photo by John Angelillo/UPI

Latest Headlines