Bernie Madoff caught on tape in 2005

By Edward Harrison On Sep 10, 2009

Bernie Madoff, the man who orchestrated the biggest Ponzi scheme in history, is heard on tape in 2005 talking to executives at Fairfield Greenwich about how to get around the SEC. Ron Geffner, a former SEC enforcement attorney, discusses the tape with CNBC’s Scott Cohn.

Self-regulation in action. Note that this tape was uncovered due to a subpoena by the State of Massachusetts, not by the SEC.

Question: How did Fairfield Greenwich escape with an $8 million settlement?

(Embedded video below)

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

More signs of liquidity withdrawal, now from the U.S. Treasury

Mark 9/11 with a moment of silence please

1 Comment

doctorx says 15 years ago

1. Great question. I suspect corruption at the SEC (can’t provide evidence, of course). What happened to the billions of dollars that are missing?

2. Of course, re your comment regarding the largest Ponzi scheme in history, presumably you are excluding such governmental Ponzi schemes such as Social Security.

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