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NEW YORK (CNN) -- Former Nasdaq chairman Bernard Madoff was arrested Thursday and charged with a single count of securities fraud for allegedly operating a multibillion-dollar Ponzi scheme from his investment advisory business, federal authorities said.
Madoff, 70, operated the advisory business separately from his Bernard L. Madoff Investment Securities, a securities broker dealer with its principal office in New York City, the Department of Justice said.
A source with knowledge of the investigation told CNN that Madoff appeared in court today and bail was set at $10 million bond. The bond was signed and Madoff was released.