No Evidence That Madoff Did Any Trading For His Clients In 13 Years

Oh, Madoff. You sly one. The firm liquidating your operation has found no evidence that you actually bought or sold any securities for your customers in the past 13 years.

From Bloomberg:

“We have found no evidence to indicate that securities were purchased for customers’ accounts” for “perhaps as much as 13 years,” said Irving Picard, the trustee liquidating Bernard L. Madoff Investment Securities LLC. It was “cash in and cash out,” he said.

In other news, here’s a song about Bernie Madoff/parody of those annoying* commercials.

Madoff Left No Trace He Made Any Trades, Picard Says (Update1) [Bloomberg]

*Free credit reports should be obtained by going to is a promotional offer for a pay service.

Want more consumer news? Visit our parent organization, Consumer Reports, for the latest on scams, recalls, and other consumer issues.