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Fraud, Everywhere

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4 Responses

  1. It’s sad that these organizations haven’t considered even basic leadership due diligence methods before handing over Billions to Madoff. Where was his board? Why didn’t they use even basic assessment methods known to do a decent job of screening out leaders lacking integrity? More here http://blog.scientificleader.com/2008/12/13/madoff-destroys-50-billion-with-giant-ponzie-scheme/

  2. g says:

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  3. Wayne Linksman says:

    FORMER BERNARD MADOFF TRADER, ANDREW COHEN, INTERVIEWED ON CNBC, Wednesday, 17 Dec 2008:

    “NO, THERE DEFINITELY HAD TO BE A LOT OF OTHER PEOPLE INVOLVED. AGAIN, I WAS ON A SEPARATE FLOOR AND, YOU KNOW, THE INTERESTING THING IS WHEN I FIRST WAS TRADING OVER THERE, AT MADOFF, AS YOU KNOW, WAS HIS RIGHT-HAND MAN.

    I DON’T KNOW WHAT THE DETAILS OF IT WERE, BUT INITIALLY HE USED TO COME TO US AND SOMETIMES HAVE US AS A TRADER EXECUTE TRADES FOR HIS ACCOUNT. WE WOULD THEN BUY CERTAIN STOCKS FOR, YOU KNOW, DEPENDING WHICH STOCKS WERE MARKED MAKING IN, AND THEN HE WOULD TAKE OUT THE TRADES FROM OUR ACCOUNT, AVERAGE PRICE THEM AND I WOULD ASSUME THAT WOULD GO TO HIS INVESTMENT ACCOUNTS.”

  4. Wayne Linksman says:

    FORMER BERNARD MADOFF TRADER, ANDREW COHEN, INTERVIEWED ON CNBC, Wednesday, 17 Dec 2008:

    “NO, THERE DEFINITELY HAD TO BE A LOT OF OTHER PEOPLE INVOLVED. AGAIN, I WAS ON A SEPARATE FLOOR AND, YOU KNOW, THE INTERESTING THING IS WHEN I FIRST WAS TRADING OVER THERE, AT MADOFF, AS YOU KNOW, WAS HIS RIGHT-HAND MAN.

    I DON’T KNOW WHAT THE DETAILS OF IT WERE, BUT INITIALLY HE USED TO COME TO US AND SOMETIMES HAVE US AS A TRADER EXECUTE TRADES FOR HIS ACCOUNT. WE WOULD THEN BUY CERTAIN STOCKS FOR, YOU KNOW, DEPENDING WHICH STOCKS WERE MARKED MAKING IN, AND THEN HE WOULD TAKE OUT THE TRADES FROM OUR ACCOUNT, AVERAGE PRICE THEM AND I WOULD ASSUME THAT WOULD GO TO HIS INVESTMENT ACCOUNTS.”

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