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."
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.”
Your support matters…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’ “.
Independent journalism is under threat and overshadowed by heavily funded mainstream media.
You can help level the playing field. Become a member.
Your tax-deductible contribution keeps us digging beneath the headlines to give you thought-provoking, investigative reporting and analysis that unearths what's really happening- without compromise.
Give today to support our courageous, independent journalists.
Editorial Cartoons
If only investors knew exactly what they were getting into—and what they aren’t going to get out of it.
Investigative reporter Steve Fishman explains how Bernie Madoff was able to pull off one of the largest financial crimes in U.S. history, and whether regulators have taken steps to ensure Americans won't get conned again.
For investors who lost money in Bernie Madoff's infamous Ponzi scheme and are waiting for payback from a firm enlisted by the Department of Justice, the check's (still) in the mail.
The 32-year-old Turing Pharmaceuticals CEO and Wall Street player became a source of schadenfreude on a mass scale Thursday with the news that he had been arrested for securities fraud.
Author Gina Nahai's latest novel, "The Luminous Heart of Jonah S.," is a family epic that leaps from Tehran to Los Angeles and back again, blending murder mystery, history, myth and magic in a lively and lyrical read.
Author Gina Nahai knows a thing or two about the Iranian Jewish diaspora in America -- she's part of it.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.