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Swindler Madoff Says Banks and Hedge Funds Knew He was Up to No Good

Bernie Madoff/facebook photo

By Allan Lengel
ticklethewire.com

Swindler Bernie Madoff, the king of Ponzi scams, told the New York Times that his family new nothing about his crimes, and that banks and hedge funds were “complicit” in his fraud and knew he was up to no good.

From prison on North Carolina, Madoff said banks and hedge funds were guilty of “willful blindness” and failed to examine discrepancies between his regulatory filings and other information they had access to, the Times reported.

“They had to know,” Mr. Madoff said. “But the attitude was sort of, ‘If you’re doing something wrong, we don’t want to know.’ ”

Madoff told the Times he was surprised to hear about email and messages surfacing in lawsuits that raised doubts about his operation.

“I’m reading more now about how suspicious they were than I ever realized at the time,” he said with a faint smile.

To read more click here.


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