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BUTNER, N.C. — The financial world was stunned to learn in 2008 of Bernard Madoff’s years-long, multi-billion dollar Ponzi scheme.
But according to Madoff, one Wall Street bank knew long before then that something was wrong — and chose not to do anything.
“JPMorgan knew it,” he said as part of a wide-ranging interview last week at a medium-security prison here, where Madoff is serving a 150-year sentence after pleading guilty in March 2009 to massive investment and securities fraud that devastated thousands of clients.
JPMorgan Chase served as Madoff’s bank for more than two decades and its role in his infamous Ponzi scheme has been the subject of intense interest to both federal authorities and investors who were victims of his fraud.
Read the full story: www.politico.com
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