Relevant:
- Ex-Madoff Trader Implicates Other Workers in Decades-Long Fraud
- JPMorgan and Madoff Were Facilitating Nesting Dolls-Style Frauds Within Frauds
- Lessons For Madoff Investors From The Bayou Fund Ponzi Scheme
- Madoff Feeder Fund Fairfield Greenwich Charged With Fraud
- Madoff victims set to receive $772 million payout
2008-12-12 — bloomberg.com
While meeting the pair at his home yesterday, Madoff conceded that he was “finished,†that his advisory business is “all just one big lie†and “basically, a giant Ponzi scheme,†the government said. The business had been insolvent for years with losses of about $50 billion, he told the employees, according to the criminal and SEC complaints.
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