Madoff Secret Partner in Ponzi Scheme?
December 21, 2010
One of Bernie Madoff’s supposed victims is suspected of being his secret partner in his multi-billion dollar Ponzi scheme. Multi-billionaire Jeffry Picower died suddenly in an accident last year, and now his widow has agreed to return a staggering $7.2 billion in profits from Madoff to help pay back the other victims. Picower actually made more on the Ponzi scheme than Madoff, with annual rates of return of more than 100% and some returns as high as 500% or even 950% per year. Some investigators believe Picower may even have been blackmailing Madoff, something his widow denies.
Click here to watch this report by ABC News Investigative Correspondent Brian Ross.
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