Posted on 07/29/2009 8:29:56 AM PDT by NormsRevenge
LOS ANGELES (Reuters) – Bernard Madoff, the financier convicted for Wall Street's biggest investment fraud, was surprised his $65 billion Ponzi scheme was not uncovered sooner, he said in his first interview since entering prison.
Madoff, the disgraced 71-year-old Wall Streeter who drew 150 years' prison time for the fraud, expressed remorse and talked candidly to a pair of lawyers suing him on behalf of investors, according to news reports of their jailhouse meeting on Tuesday.
San Francisco attorneys Joseph Cotchett and Nancy Fineman met with Madoff at the North Carolina prison where he was taken two weeks ago after pleading guilty, the Associated Press and ABC News reported on Tuesday.
"There were several times that I met with the SEC and thought 'they got me,'" Madoff told Cotchett and Fineman, according to abc news.com.
The Securities and Exchange Commission is now conducting an in-depth review of how they missed the fraud, drawing intense criticism. The results of their investigation are expected to be released in weeks.
Cotchett and Fineman represent about a dozen investors who lost money in Madoff's decades-long scheme, an unprecedented global scam for which Madoff eventually pleaded guilty to laundering, securities fraud and perjury.
"It was an extraordinary visit. He was very candid, very open, and answered every one of our questions," Cotchett said of the 4-1/2-hour meeting.
He was "very remorseful" but looked healthy and appeared to be working out, Cotchett told the news outlets.
(Excerpt) Read more at news.yahoo.com ...
'I can't believe I ate the whole thing.'
Yeah
Fox and Friends had a great segment this morning about a soldier who stood up at a meeting and said Health Care was NOT one of the ‘enumerated’ powers the federal government has.
For those with a public education, the Federal government is ONLY supposed to have powers specifically enumerated. All others belong to the states.
He said his Representative had no business being involved in health care except to FIGHT IT
The “thing” lasted so long, because the scum Madoff had elite fish on his hook, who believed they were entitled, by their insider, elevated status, to BETTER investment returns than the rest of us.
Glad to hear this prick has the time to “rest and work-out”.
Too many people were involved that we don’t know about. Did you notice that Madoff’s trial went so fast? They didn’t want a long, drawn out, trial. Too much information would have come out. Madoff went to trial, pleaded guilty and he was gone. No questions, no answers.
Bend over exercises are great on the ab's...
Makes it sound as if Madoff was begging to be caught.....
Wouldn't have something to do with the fact that he and his wifes political contributions were 80-90% democrap....nah.
He’s an amature, look at how long Social Security has lasted!!!!
Don’t worry bernie, your joyride on the backs of normal americans (and i guess kevin bacon) will be nothing compared to your prison sentence. Let’s see how flip he is after 10 years and counting.
HE can’t believe it????? That’s a hot one!
(1) They include a group of "victims" who are actually accomplices in the scheme for a while, and only turn into victims when the whole thing falls apart (which is why they never report obvious irregularities early on).
(2) Prominent, wealthy investors are often shy about reporting scams like this even when they are truly victims of a scam artist -- because they don't like to admit they got conned in the first place.
His whole family is in on the scam. They should all be tried and if found guilty put in prison.
I think a deal was made to not go after his family. If they leave his family alone, he will keep his mouth shut. If they go after his family, he will tell all.....or die in prison.
Madoff: Hiding in Plain Sight, Thanks to SEC
Not a whole lot different from current political situation. The questions that a few ask, but most dare not.
I think he knows he wouldn’t live long in public. I’m certain he’s defrauded more dangerous people than the grandparents and Hollywood folks we’ve seen on TV.
LOL. Who’d want an old man?
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