Erin Arvedlund, a former Barron’s reporter, writes Wednesday for Conde Nast Portfolio about her attempts back in 2001 to question hedge fund operator Bernard Madoff, now accused of swindling $50 billion from investors.
“So I went with the facts: Nobody, but nobody, on Wall Street traded options the way Madoff did and made the money that he made. Years later, a hedge fund manager whom I had known since the late 1990s said simply: ‘Nobody traded options that successfully. That should have been a big red flag.’
“I worked for months compiling details about Madoff. I easily questioned more than 100 people as to whether they knew Madoff or knew anyone who had ever invested with him. Most either had heard of Madoff or knew of his firm. I could count on one hand the number of people who had actually met the man.
“I was beginning to think I’d never be one of the lucky few, even after finishing my profile of him. Â
“Suddenly, though, Madoff was made available to me just as the story was about to be printed. Over a scratchy international telephone line, Madoff told me he was traveling on a boat in Switzerland. ‘I can’t really go into the details,’ he said of his strategy. He wasn’t angry or upset. He sounded more than friendly. He just didn’t tell me anything of note.”
Read more here.
Former Business Insider executive editor Rebecca Harrington has been hired by Dynamo to be its…
Bloomberg Television has hired Brenda Kerubo as a desk producer in London. She will be covering Europe's…
In a meeting at CNBC headquarters Thursday afternoon, incoming boss Mark Lazarus presented a bullish…
Ritika Gupta, the BBC's North American business correspondent, was interviewed by Global Woman magazine about…
Rest of World has hired Kinling Lo as a China reporter. Lo was previously a…
Bloomberg News saw strong unique visitor growth to its website in October, passing Fox Business…