The scandal surrounding Wall Street financier Bernard Madoff that is bankrupting hundreds of investors worldwide, even causing some to commit suicide, has also alarmed many rich Chinese who once believed everything that glitters in international marketplaces is gold. Rich clients, scared by global market risks, may turn to local options, potentially boosting business for Chinese private banking services, said analysts. The only known Chinese victim caught in the Madoff scandal so far is Tang Jun, the former Microsoft China CEO. Tang consigned his investments abroad to four foreign professional financial companies who, in turn, entrusted large parts of their portfolios to Madoff. Tang said in December he lost $2.76 million in the scandal.