Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
Jonathan Fickies/Landov
Madoff
Bernie Madoff gives first prison interview
Man sentenced to 150 years for major financial fraud for operating a massive Ponzi scheme claims banks knew what he was doing.
Published with permission from Business Insider
Bernie Madoff gave his first prison interview to the NYT’s Diana B. Henriques today.
The big headline-grabber is his claim that banks “had to know” about his fraud, though he doesn’t back that up, or present any details, at least in what’s been published.
The big story, really, is that Madoff gave an interview, and that he emails with Irving Picard (and the author of the story who is writing a book). Earlier this year Picard filed suit against JPMorgan seeking to recover assets.
He says he’s cooperating in terms of locating and tracking down assets, though he’s not doing anything that will get anyone in criminal trouble.
have your say