What happened to madoff?
Bernie Madoff scammed many people out of billions of dollars last year, and has become known as one of the largest scammers in history. Even when big banks and other large institutions were failing, bernie madoff stands out from the crowd in that he was literally using a ponzi scheme to steal money from his investors.
Since there has been so much interest in this story, you can read a Madoff Book to find out more about what happened in this collapse. There are a number of good books available on the story, covering everything from his background, to the collapse, to where he is today.