Five years ago today, on March 12, 2009, Bernard Madoff pleaded guilty to orchestrating the largest Ponzi scheme in history.
That day, Madoff told the court, “I knew what I was doing was wrong, indeed criminal.” He said that when he began the Ponzi scheme, “I believed it would end shortly and I would be able to extricate myself and my clients.” He ultimately recognized the impossibility of that, he said, adding, “As the years went by I realized this day, and my arrest, would inevitably come.”
The aftermath of the Madoff Ponzi scheme has been extensively covered in the Financial Fraud Law Report, now published by LexisNexis, and the Financial Fraud Law Blog.
To review what has occurred since the revelation of the Madoff fraud and his guilty plea, go to /legalnewsroom/search/default.aspx#q=madoff&sort=date%2Bdesc&defaultAskForumId=0&pi1129=1&tag=financial+fraud+law&tagVisible=3.
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