The Wizard of Lies Page #3

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just processed him

and they transferred him

over to Pearl Street.

Yeah, we're heading in

right now.

So you were making money

off of the trades.

There were no trades.

- What do you mean there were

no trades? - I made them up.

- Weren't there statements?

- Every month, they were fake.

Purchase dates,

they were fake;

shares, they were fake;

options, they were fake;

returns,

they were fake.

So when was the last

trade you executed?

15 years ago.

Who else knew?

I acted alone.

When did he tell you he

started this Ponzi scheme?

He didn't.

And the entire time he was running it,

you had no idea?

- No, I didn't.

- And what was your role at the firm?

I ran the firm's NASDAQ

desk in the late '90s,

added the rest of the

market-making desk in 2001,

and moved to the proprietary

trading desk in 2003...

You're not answering

my question.

What exactly is your

role at the firm?

I'm only in the office

a few days a week.

I've been building a separate

business called Madoff Energy...

Sir, what is

your exact title at BLM?

Director of Proprietary Trading

and Codirector of Trading.

And where did the money

for these loans come from?

The loans that allowed you

to buy your loft in SOHO,

your house in Greenwich,

your house in Nantucket.

I assume from the money he

made through investments.

On the private

advisory side?

- Yes.

- On the 17th floor?

- Yes. - And you never asked

what went on the 17th floor?

Of course I did.

- You did?

- Yes.

- But...

- But what?

He would always say,

"You run your business

and I'll run my business. "

And you never thought

to follow up

on those questions?

- You don't understand...

- You're right, I don't.

I don't understand

how you could work in the

same office as your father

for 20 years

and suspect nothing.

Nothing?

Who are some

of your father's clients?

I'm not privy

to all of them,

but, um, Jeffry Picower

was a big one.

Fred Wilpon and Saul Katz

of the Mets.

HSBC,

Royal Bank of Scotland,

some family friends, Marty.

But he wouldn't talk about

who or what he did for them.

Our money was

with him as well.

So you were never

suspicious of your father?

Never?

Do you not understand

who he was?

I think we're all

beginning to understand

exactly who your

father is, Mr. Madoff.

He wasn't just my father.

You know,

he was f***ing idolized.

We're talking about a man

who created the modern

market as we know it.

He created NASDAQ.

He's Chairman of NASDAQ.

He's Chairman of the National

Securities Clearing Corporation,

Chairman of the International Securities

Clearing Corporation,

Chairman of the National Association

of Securities Dealers,

which was FINRA before

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