Madoff: Banks “had to know” of multi-billion dollar fraud

posted by
February 15, 2011
Fox News    
Posted in News

"Convicted fraudster Bernard L. Madoff believes banks and hedge funds were complicit in his elaborate multi-billion dollar Ponzi scheme, The New York Times reported Tuesday. In an interview from prison in North Carolina, the 72-year-old pointed to the 'willful blindness' of many financial institutions who dealt with his investment advisory business, highlighting their failure to examine discrepancies between his regulatory filings and other information available to them." (02/15/11)  

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