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Madoff's Jail Cell Emails Revealed

February 14, 2013

[by Larry Goldfarb]

 

Bernie Madoff wrote a number of emails from his jail cell to CNBC's Scott Cohn.  The following is a transcript of interview between the CNBC anchor and correspondent Cohn.

 

Convicted Ponzi schemer Bernie Madoff writing a note to our Scott Cohn from his jail cell:

 Scott you've been tweeting about this in the last few minutes. What did he have to say? Bernie -- i have Bernie on the brain. Half a dozen e-mails Bernie Madoff dashed off from prison, all of them on the record and it is very clear that Bernie Madoff is angry. Why, this follows our exclusive interview with Irving Pickard, the trustee rounding up Madoff’s assets for investors. Pickard told us Madoff has been no help, $5 billion which the trust is preparing to give back to investors. Saying he was no help set Bernie Madoff off in a big way. 

I've been in touch with Madoff for quite a while now much of it off the record at his insistence but Picard's comments unleashed a tirade. He's telling me he now wishes he had not pleaded guilty to the epic Ponzi scheme as he did in 2009 because he says Picard is distorting the truth. This is a man that keeps making statements that have no facts to back them up. I wish I went to trial and he would have been required to provide the evidence he claims he has.

As you can see, I’m frustrated. He goes on, as remorseful as I am for the pain and suffering I have shamefully caused, I take some comfort in the fact that, with my assistance, all of my customers will recover their original investment principal. 

Madoff is proud of the role he claims he played in the biggest chunks of money recovered, $7.2 billion from mega investor Jeffrey Picower, who died shortly after the fraud came to life. His widow turned over the money. Madoff writes that when i spoke to Picower prior to his death, i made it very clear I would testify about the role he played and that of his accountants, attorneys and assistants, to name a few. Madoff says of Picard, I can certainly understand his reasons for not acknowledging my role because how could he justify his fees otherwise? 

Picard has billed more than $600 million for his work. There is a lot more in these e-mails: Madoff on his sons, Madoff on the bank’s role; we're going through all of it, more of this as the day goes on and on cnbc.com. 

Scott, I hope he understands how perverse it sounds to take any credit for helping people get some of their money back. You know what, I think he does understand that. I think that though he's still as Picard told us this week, that Madoff likes to feel like he's in control of the situation and that's what he's doing even as he serves the rest of his life in prison. He always prefaces these things with this bit about remorse, and then goes on to claim credit for what a good person he has been. Of course that sort of ignores the fact he pulled off this epic ponzi scheme for many years. 

 

 

For more information, please review [CNBC, 2/14/13]