Bernie Madoff has stated that as yet unidentified banks and hedge funds were “complicit” in his ponzi scheme in his first interview since he was arrested in 2008.
In an interview with the New York Times, Madoff apparently reverses his previous assertion that he was the only one involved, as he now claims there was a “wilful blindness” among some of the various banks and hedge funds he dealt with.
The unnamed financial institutions in question failed to examine discrepancies between his regular filings and held an attitude which suggested ‘if you’re doing something wrong, we don’t want to know,’ according to the New York Times interview. Despite now apparently working to help those affected by his £40bn fraud scheme, Madoff has not shared any information with federal prosecutors regarding those he considers to have been complicit.
None of those who conducted business with him have been accused of any wrongdoing in relation to the fraud.
Madoff has gone as far as to claim some of the out-of-court settlements made by a number of banks and funds were made specifically to ‘keep [him] quiet’ about any role they may have played.
Only a few members of his staff as well as his auditor have been formally charged with complicity in Madoff’s ponzi scheme.
Madoff himself is currently serving a sentence of 150 years.