The Picower/Madoff settlement: Fooling some of the people all of the time…
Basically, my headline The Picower Madoff settlement: A $7.2 Billion Whitewash is proving correct. As I write this, the 5th most popular article on the webzine of influential Jewish periodical The Forward is In New Madoff Filings, Largest Beneficiary of Fraud Was Possibly Unaware of Ponzi Scheme by Josh Nathan-Kazis December 22, 2010
Jeffry Picower, the late investor who earned more than even Bernard Madoff did from the fraudster’s huge Ponzi scheme, has long been accused by the court appointed trustee in the Madoff case of knowing the operation was a fraud. But a new filing by the trustee following his settlement with the Picower estate suggests that Picower may just have been an innocent Madoff victim after all. Read more