Madoff says his victims had been ‘greedy’
In his 2nd jailhouse interview, Wall Road scammer Bernard Madoff informed a reporter that his victims were “greedy” and the U.S. federal government is a “Ponzi scheme,” though he insisted that he’s a “good person.”
“Everyone was greedy,” said Madoff, based on Ny Magazine. “I just went along. It’s not an excuse.”
Madoff loaded the interview with caveats, claiming that he instructed investors they were superior off investing in government bonds and that he warned them, “I could go nuts and do something stupid.”
Of his burned traders, Madoff reportedly said, “Now if you hear [them,] they’re living from Dumpsters plus they don’t have any income, and I’m sure it is a traumatic encounter to some, but I produced a great deal of cash for people today. Does it justify it, no?”
He also claimed the hedge money and banks had been complicit.
In the course of a sequence of a dozen telephone interviews with reporter Steve Fishman, Madoff explained how he launched his investment firm with only $500, only to find out it morph right into a Ponzi scheme in the early 1990s. Following various years, he recognized he wasn’t going to be able to get out of it, but continued to declare that his loved ones members realized nothing about this.
“It was a nightmare for me,” he reportedly mentioned. “Look, envision going house each and every night not becoming able to tell your spouse, living with this ax more than your head, not telling your sons, my brother, viewing them daily inside the company instead of becoming in a position to confide in them.”
Lawyers make millions off Madoff mess
Madoff told the magazine that he went on suicide watch after his son Mark hanged himself in December, 2010, about the 2nd anniversary of his father’s arrest for orchestrating the largest Ponzi scheme in background.
The long-running scheme stole billions of dollars from numerous victims before it lastly came crashing down in 2008. Madoff pleaded guilty in March, 2009, to operating the Ponzi scheme and was sentenced to a hundred and fifty decades in federal prison. He is currently incarcerated at a prison in Butner, N.C.
He instructed the magazine that his “notoriety impresses” the other prisoners. “It shouldn’t, but it does.”
He also blamed the government for being part with the issue.
“The whole new regulatory reform is really a joke,” he said. ‘The whole government can be a Ponzi scheme.”
However the Ponzi schemer himself statements that he’s not that poor, at least according to his prison therapist, who instructed him that he’s a “good person.”
“You’re totally not a sociopath,” said the therapist, based on Madoff. “You have morals. You might have remorse
