CNBC on the “Scam of the Century”

CNBC delves into the Bernie Madoff story tonight at 9 p.m. E.S.T. For those intrigued by white-collar crime, this should be quite an interesting show.

I’m still struggling to understand how a fund that claims to have $17 billion in assets can have defrauded investors for $50 billion.

Had he also borrowed $33 billion that he will never repay, so that $17 billion plus $33 billion adds up to $50 billion?

(Hat tip: Gary Zeune)