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Will Bernard Madoff be the last of the great fraudsters?

As Bernard Madoff contemplates 150 years behind bars in the US many people are wondering whether the U.S. regulators have finally purged the system of the big-time fraudsters. The Madoff fraud involved billions upon billions of US dollars and has seen many people literally lose their life savings and end up with nothing to show for their working lives. While the U.S. regulators were relieved that Madoff admitted the various sample charges put to him at a very early stage there are concerns that more fraudsters will come to the surface as the downturn in the world economy shows certain flaws in the regulatory system.

While the UK and US governments have made significant moves to reduce the likelihood of fraudulent activity in various financial markets they have been found wanting on a number of levels. There were allegations and rumours surrounding Bernard Madoff's business affairs for many years as they were with Alan Stanford who also stands accused of a multibillion dollar fraud.

The bottom line is that fear and greed push many investors to the limit and beyond making them more susceptible to potential fraudulent activity which is marketed correctly can go unnoticed for some length of time. Those who believe the fraudsters have been stopped in their tracks will need to think again. If an investment looks too good to be true then the likelihood is it is too good to be true!

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