Bloomberg (December 2)
“If Sam Bankman-Fried isn’t lying, crypto is in trouble.” If “systematic incompetence” was the reason behind FTX’s implosion, “it’s perhaps more damaging to the industry’s ambitions than if its problems were caused by premeditating Madoff-like criminals who could be brought to justice.”
Tags: Ambitions, Criminals, Crypto, Damaging, FTX, Implosion, Incompetence, Lying, Madoff, Premeditating, Reason, SBF, Trouble
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
Newsweek (June 7)
Bernie Madoff is serving 150 years in prison for defrauding investors of billions in the world’s biggest Ponzi scheme. According to his prison mates, Madoff isn’t feeling sorry for what he did or those he wronged. Madoff is reported as saying, “F–k my victims…. I carried them for 20 years, and now I’m doing 150 years.” He told others his clients were “rich and greedy and wanted more,” and that his only crime was taking their money.
Tags: Madoff, Ponzi scheme
