BREAKING NEWS

Madoff to NY newspaper: Banks 'complicit' in fraud

NEW YORK — Disgraced Wall Street financier Bernard Madoff said in an interview published online Tuesday that banks and hedge funds were "complicit" in his scheme to fleece victims out of billions of dollars.
Madoff did not name any institutions in his series of interviews with The New York Times but said banks and hedge funds "were complicit in one form or another." He said they failed to scrutinize the discrepancies between his regulatory filings and other information.
"They had to know," he said in his first interviews for publication since his 2008 arrest. "But the attitude was sort of, 'If you're doing something wrong, we don't want to know.'"
Madoff spoke to the newspaper via e-mail and during a private two-hour interview at Butner Federal Correctional Complex in Butner, N.C., where he's serving a 150-year sentence. The reporter who conducted the interviews, Diana B. Henriques, is writing a book about the Madoff scandal.
Subscribe for our daily newsletter
Subscribe for our daily newsletter

By subscribing I accept the terms of use and privacy policy