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Madoff's Funky Account Statements

By Mark H. Astarita, Esq.

div xmlns='http://www.w3.org/1999/xhtml'Doctored account statements have to ultimately be at the center of the Madoff fraud, there is simply no other way that one could have run this scam for so long. You have to report holdings and trades to customers at some point in time, and if you are a broker-dealer, you have to do it monthly.br/br/I mentioned in an earlier post that this fraud must have ia href='http://seclaw.blogspot.com/2008/12/this-is-not-hedge-fund-fraud.html'nvolved the brokerage firm/a, and not just Madoff's investment advisory business. That became clearer when SIPC stepped in to start la href='http://seclaw.blogspot.com/2008/12/sipc-to-liquidate-madoff-broker-dealer.html'iquidating the broker-dealer/a.br/br/Now the NY Post has an article which claims it has found glaring errors on the brokerage firm's account statements...continue to full post

Full post as published by SECLaw.com on December 17, 2008 (boomark / email).