Word: bernardes
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...want to emphasize today that while my investment advisory business - the vehicle of my wrongdoing - was part of my firm Bernard L. Madoff Securities, the other businesses my firm engaged in, proprietary trading and market making, were legitimate, profitable and successful in all respects. Those businesses were managed by my brother and two sons...
Similarly, when I recently caused my firm in 2006 to register as an investment advisor with the SEC, I subsequently filed with the SEC a document called a Form ADV Uniform Application for Investment Adviser Registration. On this form, I intentionally and falsely certified under penalty of perjury that Bernard L. Madoff Investment and Securities had custody of my advisory clients' securities. That was not true and I knew it when I completed and filed the form with the SEC, which I did from my office on the 17th floor of 855 Third Avenue, here in Manhattan...
...share as a commission. At times in the last few years, these commissions were transferred from Chase Manhattan bank account of the fraudulent investment advisory side of my firm to the account at the Bank of New York, which was the operating account for the legitimate side of Bernard L. Madoff Investment Securities - the proprietary trading and market making side of my firm. I did this to ensure that the expenses associated with the operation of my fraudulent investment advisory business would not be paid from the operations of the legitimate proprietary trading and market making businesses...
...victims of Bernard Madoff were looking for catharsis in the court of U.S. District Judge Denny Chin, they got nothing close to it. Several of them had gathered in the large, packed courtroom in Lower Manhattan for Madoff's hearing Thursday morning, but Chin issued instructions that victims could speak only if they wanted to object to Madoff's pleading guilty to 11 counts of fraud. (Watch the video of Madoff pleads guilty...
...monotony of the proceedings made many eyes glaze over. Only Bernard Madoff's nasal explanation of how he pulled off his scam provided drama. Looking down at his statement and avoiding eye contact with any of the victims, the most hated man in America said he was "deeply sorry and ashamed" for what he had done...