Bernard Madoff says that banks knew about his Ponzi scheme

February 17th, 2011 - 12:50 am ICT by Aishwarya Bhatt  

Bernard Madoff New York, Feb 16 (THAINDIAN NEWS) Bernard Madoff caused a stir of sorts with his first jailhouse interview since getting imprisoned after being found guilty in the Ponzi scheme. He was interviewed by the Times in the North Carolina jail where he is currently lodged for serving out his 150-year sentence.

In the controversial interview he candidly stated that the banks knew about his Ponzi scheme and had just turned a blind eye to it. Due to his ambitious scheme he was able to amass billions of dollars from numerous investors. It remains to be seen if any investigation would be started into the conduct of the banks.

When he was prodded to name the banks that knew what was going on, then he maintained his silence on the issue and refused to prattle names. He said that the Met owners – Fred Wilpon and Saul Katz were not his accomplices and they had absolutely no idea what was going on. It ought to be mentioned that the Met owners are also in the soup as they have been sued by the Madoff victims, as the victims believe that they were aware about the happenings and were also making a handsome profit from it.

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