Wednesday, April 01, 2009

Madoff Feeder Funds Knew about his Scam


Endless greed.

Money raisers, the feeder funds, knew Bernard Madoff was running a scam but invested with him anyway. Why? They knew they could make money.

Edward H. Seidle testified on Tuesday that in his opinion,
"... that [the funds and their principals] were all aware that Bernard L. Madoff was engaging in illegal conduct in connection with his purported money management operations and intentionally chose to participate and support Madoff's illegal conduct in order to reap enormous illicit financial benefits..."

Affidavit: Madoff associates knew of scheme, joined anyway

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