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Wall Street trader arrested in Madoff affair

A Wall Street trader is today under house arrest after being arrested in connection with the alleged $50 billion fraud conducted by Bernard Madoff. The arrest came to light yesterday as regulators finally woke up to what is being hailed as one of the largest frauds of all time but few can understand how the regulator appears to have missed the tell-tale signs. Sources claim that the company has been investigated seven times as a matter of course but no problems were found.

The financial press are claiming that the company has been effectively insolvent for many years and only allowed to operate because of new income from new investors. While there are many rumours and untruths doing the rounds about the Madoff situation there would appear to be much more to come from the situation as regulators get to grips with the internal paperwork.

The fallout from the alleged fraud is expected to continue for some time with more and more people coming under investigation and suspicion rife in the market. It would appear that regulators are now on the trail of possible accomplices who may well have helped Bernard Madoff during his infamous career.

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