A Little Layer of Light

“I keep thinking about the 90-year-old man who lost even his house and is bagging groceries. Then I think of the fact that I may have gotten paid with his money.”

An employee of Bernard Madoff’s legitimate brokerage operations, which were described by the fraudster in his plea agreement as being “successful and profitable,” has told The Daily Beast that they were in fact money-losers that acted as a front for his Ponzi scheme. “The three managers who ran parts of the businesses were getting $500,000 to $750,000 a year…. They mostly socialized, read the news. They would have been unemployable on the outside.”