Renowned Spanish Director Pedro Almodovar Falls Victim to Madoff Scheme

Bernard Madoff operated a Ponzi scheme that eventually became one of the largest Wall Street scams in American history.

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Resulting in close to 50 billion dollars in losses for investors, the effects of the ponzi scheme have rippled across Latin America. Among those caught in the backlash is Celfin Capital SA, a Chilean brokerage house that was forced to cut their already tight budget in half after investors lost millions through Madoff.

The financial scam artist, once counted among the best hedge fund managers in the biz, began running his scheme in 2005. Until he was caught, Madoff's sterling rep enabled him to attract some seriously wealthy clientele. According to Hola, famed Spanish Director Pedro Almodovar and his brother Agustin can be counted among them after placing the assets of their production company, El Deseo, in Oyster Investments, a fund which suffered major losses as a result of the fraud perpetrated by Madoff.

Other celebs who suffered the consequences of Madoff's antics include Steven Spielberg, whose losses were in the low millions and Uma Thurman's business-man fiancé Arpad Busson, who lost an astounding $160 million.

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