A Madoff client who may have lost upwards of $1.8 million has leaked copies of the trading records to Dealbook.
The trades look authentic, but at this point no one know if they actually happened or not. Madoff has admitted to a $50bn Ponzi scheme, so falsified records would have to be part of it.
I’m a database programmer, among other things. Generating thousands of plausible looking statements and trade confirmation each month, especially when the data is bogus, is not a trivial task. There’s no way he did this alone or even with a few family members. Just the database coding alone would have involved quite a few people.
This is fraud and theft on a massive scale. By any yardstick, it is organized crime. So, who else was involved? Because lots of other people had to have been.