• Home
  • About
  • ‘Enforcement 40’ for 2020
  • Webcasts
  • Enforcement Hall of Fame
  • Contact
Securities Docket
Ankura 480x60
  • Class Actions
  • Criminal
  • Global
  • People
  • SD Insider
  • SEC
  • Video
  • Subscribe by email
  • Subscribe
Browse: Home / 2011 / November / 22 / Employee Contradicts Madoff, Says Ponzi Scheme Went Back to Early 1970s

Employee Contradicts Madoff, Says Ponzi Scheme Went Back to Early 1970s

By Securities Docket on November 22, 2011, 10:11 pm

When he pleaded guilty, Bernard Madoff told the court that for about two decades, he did actually invest his client’s money in securities. He said it was not until the recession of the early to mid-’90s that he started using new money to pay redemptions requested by other clients. It now appears that even this version of the truth from Madoff was false, and that the scheme actually began in the early 1970s.

Read more: Employee Contradicts Madoff, Says Ponzi Scheme Went Back to Early 1970s — Enforcement Action

Blog Widget by LinkWithin

Posted in Criminal, Top | Tagged Financial Fraud, Guilty Pleas

« Previous Next »

Subscribe

‘Enforcement 40’ for 2020

Ankura 260x250

Our Sponsors

Securities-Docket_260x125_14Sec Ankura 260x125

Join Us On LinkedIn

Join the Securities Litigation and Enforcement Group on LinkedIn

Archives

Copyright © 2022 Securities Docket.

Powered by WordPress and Hybrid.