Bernard Madoff is considered by many to be the all-time king of Ponzi schemes. Now comes news that he may also have been a front-runner. A New York Post columnist is spreading the word at the behest of two former NYSE seatholders, who allege that Madoff used his position as head of the tiny Cincinnati Stock Exchange to access information about orders about to execute on the NYSE and then front-run them via the Cincy exchange.

The exchange was a pioneer in electronic trading. And "the high-tech nature of Madoff's exchange, the seat holders say, is precisely what gave Madoff the ability to cheat." When people complained, "Madoff or his goons would claim that they had done their trades first and that the profit was legitimate." Some say he also did this via the Nasdaq.

For more:
- here's the article

Related Articles:
Bernard Madoff news from FierceFinance