Tuesday, February 15, 2011

News Alert: From Prison, Bernard L. Madoff Says Banks 'Had to Know' About Fraud

Breaking News Alert
The New York Times
Tue, February 15, 2011 -- 8:50 PM ET
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From Prison, Bernard L. Madoff Says Banks 'Had to Know' About Fraud

Bernard L. Madoff said he never thought that the collapse of
his Ponzi scheme would bring down the sort of destruction on
his family that has occurred.

In his first interview for publication since his arrest in
December 2008, Mr. Madoff -- looking noticeably thinner and
rumpled in khaki prison garb -- continued to maintain that
family members knew nothing about his crimes.

But he asserted during a private two-hour interview in a
visitor room, and in earlier e-mail exchanges, that
unidentified banks and hedge funds were somehow "complicit"
in his elaborate fraud, an about-face from earlier claims
that he was the only person who knew.

Read More:
http://www.nytimes.com/2011/02/16/business/madoff-prison-interview.html?emc=na


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