The Independent has a front page photograph of Bernard Madoff - it dubs him the man who "conned the world".
The paper says investors around the world are counting the spiralling costs of the alleged $50bn fraud.
The Daily Express asks: "How could one man lose £30bn of other people's money without anyone noticing?"
The Daily Star expresses disbelief that UK banks were easily fooled. After all, says the Daily Mail, he was working at the centre of the financial universe.
The main story in the Daily Telegraph is about the future of Royal Mail.
The paper says it understands that two foreign companies, TNT and DHL, are seeking to buy a large stake in the state-owned company.
The Times quotes unions who predict that a partial privatisation of Royal Mail could lead to the loss of up to 50,000 jobs.
It thinks the government is likely to back the changes - which would inflame both unions and Labour backbenchers.
The Daily Mirror says India's win over England was a defiant message that cricket and sport will continue after last month's terror attacks in Mumbai.
The Daily Express describes how India's sporting icon, Sachin Tendulkar, put a smile back on his nation's face.
Tendulkar scored the winning runs in one of the most remarkable run chases in the history of Test cricket.
The Independent says the Indian team gave more than a billion people the perfect antidote to the attacks.
The Daily Telegraph reports that the number of Christmas cards being sent over the internet is on the rise.
Organisations such as the Royal Opera House are even joining the trend, the paper says.
But a man featured in the Daily Express seems unlikely to change his ways - he has been sending the same Christmas card to his wife for 41 years.
Sandra Sargison tells the paper that her husband John is a typical Yorkshireman - careful with his cash.