5 Biggest Financial Scandals in US History

4. Bernard L. Madoff Investment Securities

The biggest Ponzi scheme in history is also one of the biggest financial scandals in U.S. history. Bernie Madoff, the ex-chairman of Nasdaq, with estimates of the frauds ranging form $35 billion to $70 billion, though a large portion of this is based on non-existent investments and fake profits reported by Madoff.