The co-liquidator of the biggest feeder fund for Bernard L. Madoff Investment Securities says some investors in the Fairfield Sentry funds had knowledge of the massive financial fraud and profited as a result.

FORBES: EXCLUSIVE: Some Fairfield Investors Knew About Madoff Ponzi and Profited

UBS involved in financial dealings with Parmalat before the massive fraud that caused the bankruptcy of the Italian food conglomerate was uncovered last December, he has now set off a new round of litigation.

ECONOMIST: The bankrupt group's auditors are now in the firing line

But this massive fraud is at the heart of the financial meltdown and the entire world was hurt.

FORBES: DeMarco "Completely Puzzled" Over Derivatives Flap