Friday, April 24, 2009


Fortune investigates: How Bernie did it

Madoff is behind bars and isn't talking. But a Fortune investigation uncovers secrets of his massive swindle.

The employees were transfixed. Standing on the mid-Manhattan trading floor of Bernard L. Madoff Investment Securities in late 2007, a half-dozen staffers stared up at the ceiling-mounted TV as CNBC aired a report on the mysterious Palm Beach death of a hedge fund manager who had been leading a double life. The police, it appeared, were even considering the possibility that he had been murdered. "Bernie," someone casually asked as Madoff happened to walk by, "have you heard of this guy?"

Madoff glanced at the screen, blanched, and exploded: "Why the f*** would I be interested in some s*** like that?" The employees recoiled. "I never saw him react like that before," says a Madoff trader who witnessed the outburst. "It obviously hit a nerve..."

CNN Money: Fortune investigates: How Bernie did it

This page is powered by Blogger. Isn't yours?