Madoff’s Amazing Disgrace

Despite several occasions when he thought he had been nailed by the SEC, Bernard Madoff continued with his Ponzi scheme, revealing in his first jailhouse interview that he was “amazed” that he got away with it for so long. Madoff spoke to lawyers about his financial larceny Tuesday, during which he was called both candid and an “absolute gentleman.”

The Guardian:

Bernard Madoff has admitted that he cannot believe he got away with his $65bn (£38bn) fraud for so long, in his first interview since being jailed.

The disgraced financier chose to lift the lid on his crimes to lawyers who represent victims of his Ponzi scheme. According to San Francisco attorney Joseph Cotchett, Madoff was “very candid” and an “absolute gentleman” during their four-and-a-half hour meeting on Tuesday.

Cotchett said that Madoff “answered every single question and shed a lot of extraordinary details on exactly how he was able to get away with the scam”.

Madoff also admitted that “there were several times that I met with the SEC and thought ‘they got me’ ”.

Read more

AP / Louis Lanzano

Madoff appeared eager to discuss his Ponzi scheme, apparently in an effort to shield his wife, Ruth.