Bernard Madoff's Guilty Plea Allocution - Statement to the CourtU.S. v. Bernard Madoff
March 12, 2009
The former investment manager admitted:
As I engaged in my fraud, I knew what I was doing was wrong, indeed criminal. When I began the Ponzi scheme, I believed it would end shortly and I would be able to extricate myself and my clients from the scheme.Madoff emphasized that while he used investment advisory business to commit crimes:
…the other businesses my firm engaged in, proprietary trading and market trading, were legitimate, profitable and successful in all respects…managed by my brother and two sons.
You can read Madoff's guilty plea to and complete admissions below:
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