Thursday, February 17, 2011
Disgraced US investment manager Bernard Madoff, who masterminded a multibillion-dollar Ponzi scheme, says banks and hedge funds were “complicit” in his fraud.
In his first media interview since his arrest over two years ago he told the New York Times that the bankers and investors who were either his clients or of which he was a customer "had to know" about the scheme.
Madoff refused to name any particular bank or entity but the heat has turned up on JP Morgan Chase, who faces a USD 6.4 billion lawsuit filed by the trustee for the Madoff estate who is trying to recover investors' lost money.'
Posted by DotConnector at 07:35