Madoff’s Little Lie

Madoff's Little Lie

It was a little lie that was supposed to die young. That is Bernard Madoff’s version of how his investment company became the largest Ponzi scheme ever. “When I began the Ponzi scheme” Madoff told a U.S. District Court Judge in Manhattan this morning, “I believed it would end shortly and I would be able to extricate myself and my clients from the scheme. However, this proved difficult, and ultimately impossible, and as the years went by I realized that my arrest and this day would inevitably come.”

 

Michael Schulder: From a Researcher at ABC News; To a Writer at The MacNeil-Lehrer Newshour on PBS; To my five years as a Writer for Peter Jennings at ABC World News Tonight; And 17 years as a Senior Executive Producer at CNN.

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