{"id":20628,"date":"2011-02-16T08:10:30","date_gmt":"2011-02-16T12:10:30","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=20628"},"modified":"2011-02-16T08:10:30","modified_gmt":"2011-02-16T12:10:30","slug":"bernard-madoff-says-banks-and-funds-were-complicit-in-90bn-fraud","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/02\/2011\/bernard-madoff-says-banks-and-funds-were-complicit-in-90bn-fraud.html","title":{"rendered":"Bernard Madoff says banks and funds were &#8216;complicit&#8217; in $90bn fraud"},"content":{"rendered":"<p>The Guardian &#8211; Top banks and hedge funds must have known\u00a0Bernard Madoff was running a giant Ponzi scheme, the convicted fraudster said in the first public interview since his arrest in December 2008.<\/p>\n<p>&#8220;They had to know,&#8221;\u00a0Madoff told The New York Times. &#8220;But the attitude was sort of, &#8216;If you&#8217;re doing something wrong, we don&#8217;t want to know.&#8217; &#8221; He told the paper that financial institutions &#8220;banks and funds were complicit in one form or another&#8221;.<\/p>\n<p>Madoff&#8217;s statements will come as another blow to the reputations of banks including HSBC, Citigroup and JP Morgan that are currently facing law suits brought by\u00a0Irving Picard, the trustee representing Madoff&#8217;s victims. Over the last few months Picard has filed suits seeking $90bn (\u00a355bn) in damages and fictional profits he claims the banks and others made from Madoff&#8217;s scheme over the years.<\/p>\n<p><strong><a href=\"http:\/\/www.guardian.co.uk\/business\/2011\/feb\/16\/bernard-madoff-says-banks-complicit-in-fraud\" target=\"_blank\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Guardian &#8211; Top banks and hedge funds must have known\u00a0Bernard Madoff was running a giant Ponzi scheme, the convicted fraudster said in the first public interview since his arrest in December 2008. &#8220;They had to know,&#8221;\u00a0Madoff told The New [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-20628","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/20628","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=20628"}],"version-history":[{"count":2,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/20628\/revisions"}],"predecessor-version":[{"id":20630,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/20628\/revisions\/20630"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=20628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=20628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=20628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}