Prepare an extra jail cell for Peter Madoff

Yesterday we noticed that Peter Madoff forced an underling to sign off on a lease for a new Mercedes for Bernie so that the underling, rather than Peter, would be liable for the payments when Madoff Inc blew up. Seemed suspicious to us. Now Bloomberg has noticed another telling bit from the same testimony of Harry Markopolos’ testimony: Only Peter Madoff was allowed to audit Bernie’s books. So he was on to the scam the whole time, wouldn’t you say? I don’t think a jury is going to disagree with this conclusion. All that’s left now is what those fly fishing fools, Mark and Andy knew about Dad’s operations and when they knew it (I figure Mom Ruthie was in on the deal from the beginning and has already reserved the Leona Helmsley Room at Bedford Women’s Prison).

Feb. 4 (Bloomberg) — Bernard Madoff rejected an investment fund demand for an outside audit of his performance, saying only his brother Peter was allowed to do that “for reasons of secrecy,” a certified fraud examiner testified to Congress.

Harry Markopolos, who sought for nine years to persuade U.S. regulators that Bernard Madoff was running a Ponzi scheme, told U.S. lawmakers today that “a fund of funds representing Arab money” had been told by Madoff that it could not have an international accounting firm verify his performance. The tip was contained in documents released as part of Markopolos’s testimony to a House Financial Services Committee panel.

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One response to “Prepare an extra jail cell for Peter Madoff

  1. Inagua

    So you think a couple of highly educated types with 40 years of trading experience between them should have noticed that dear old Dad wasn’t actually doing any trading?