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The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. In December of that year, Bernie Madoff, the former Nasdaq chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate multi-billion-dollar Ponzi scheme.
Home sweet home indeed. US homeowners are now sitting on record-setting $17 trillion in 'tappable equity' — and these 5 West Coast housing markets account for nearly 25% of that massive sum