New York Times (February 16)
Given the unprecedented scale of Bernard Madoff’s Ponzi scheme, investigators and lawyers are probing whether anyone else knew about the fraud. Fingers are being pointed at institutions including JPMorgan Chase. In a private interview, Maddoff told the New York Times that some hedge funds and banks turned a blind eye to his activities. “They had to know…. But the attitude was sort of, ‘If you’re doing something wrong, we don’t want to know.’”
Given the unprecedented scale of Bernard Madoff’s Ponzi scheme, investigators and lawyers are probing whether anyone else knew about the fraud. Fingers are being pointed at institutions including JPMorgan Chase. In a private interview, Maddoff told the New York Times that some hedge funds and banks turned a blind eye to his activities. “They had to know…. But the attitude was sort of, ‘If you’re doing something wrong, we don’t want to know.’”
Tags: Fraud, Hedge funds, JPMorgan Chase, Madoff
