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Before the Fall

Bernard L. Madoff

Traders Magazine, March 2009

Peter Chapman

The abrupt closure of Bernard L. Madoff Investment Securities in December marked an ignominious end for a firm that, after nearly 50 years in business, enjoyed near universal respect on Wall Street, as well as major financial success. That its founder could be charged with defrauding its customers out of billions of dollars, as two arms of the federal government have alleged, shocked and dismayed those who know the man.

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