On this day in 2008, the biggest Ponzi scheme ever came to light, as the previouslywell-respected financial genius, Bernie Madoff, was arrested in his multimillion dollar Upper East Side apartment.
Madoff had built up a financial trading business based almost entirely on hot air, and defrauded investors of billions of dollars, using the classic Ponzi scheme method of taking new investors' money to pay the revenue due to old investors.
And, despite one financial investigator chasing him for ten years, and the fact that no large Wall Street firm would trade with him as they were convinced he was a fraud, Madoff had kept his scheme in business for decades.
We're toasting not the man but his chutzpah - because, lord, it takes some balls to run a $65 billion fraud - with the Million Dollar Cocktail, a lesser-known invention of the Singapore Sling creator, Ngiam Tong Boon.
The Million Dollar Cocktail
TODAY IS FIVE YEARS SINCE BERNIE MADOFF WAS ARRESTED