Bernard Madoff was arrested in a “Ponzi” scheme, according to reports.

On Thursday, Mr. Madoff was arrested for what federal agents described as a massive Ponzi scheme, which could leave investors with billions in losses. A spokesman for Mr. Madoff said: “Bernie Madoff is a longstanding leader in the financial services industry and we are cooperating fully with the government and regulators investigations into this unfortunate set of events.”

In the 2008 and prior election cycles, he seems to have been a donor to a number of federal candidates and political committees.   His political contributions for the 2008 cycle total around $65,000.