Monday, May 18, 2009

Madoff victims or co-conspirators?

Interesting development in the Madoff case. It seems some of the so-called victims may have been in on the deal.
Some of the victims apparently were able to state the size of the annual returns they wanted from Madoff. Their accounts soon would reflect those returns, some of which regularly reached as high as 100 percent. The Journal cites people familiar with the investigation as its source.
Not sure why anyone would think a 100% return wouldn't eventually pique the interest of the SEC even if Bernie never got caught. Greed apparently breeds stupidity.

[More posts daily at The Detroit News]

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Blogger Capt. Fogg said...

Who was it said "you can't cheat an honest man?"

2:54:00 PM  
Blogger Libby Spencer said...

Don't know, but I'm not sure that's true anymore.

3:10:00 PM  

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