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Madoff rip-off shattered trust, changed investment behavior

20:00 EDT 17 Jul 2017 | AAAS

(Cornell University) Notorious financier Bernie Madoff bilked more than 10,000 investors out of billions of dollars in the 1990s and 2000s in the largest financial fraud in US history. After the fraud was discovered, people who knew Madoff victims or who lived in areas where victims were concentrated lost trust in the financial system and dramatically changed their investment behavior.

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