Thursday, April 07, 2011

Madoff seeks to spread blame for fraud: "JP Morgan Got All the Financial Statements"

The Financial Times has an interview with Bernie Madoff:
Madoff, 72, maintained that banks including JPMorgan Chase, primary banker for his firm, Bernard L Madoff Investment Securities, possessed sufficient account information to detect suspicious activity. He levelled similar accusations against regulators.

“I am not a banker but I know that $100bn going in and out of a bank account is something that should alert you to something,” he told the FT at the federal prison in Butner, North Carolina. “JPMorgan got all the financial statements.”
You'll want to read the whole article.