REUTERS/Brendan McDermid
When you’re already in prison for life, why not try to take others to task?
Such was Bernard Madoff’s plan, accusing the banks and hedge funds he worked with of overlooking his sketchy business practices in his first interview since being arrested for a massive 16-year Ponzi scheme.
“They had to know.” Madoff told the New York Times. “But the attitude was sort of, ‘If you’re doing something wrong, we don’t want to know.’ ”
(More on TIME.com: Bernie Madoff scandal: Where are they now?)
While placing blame on the banks he worked with, Madoff continues to assert his family’s innocence. In the aftermath of Madoff’s trial, his son Daniel committed suicide two months ago.
On February 3, Irving Picard, the court-appointed trustee charged with recovering assets for Madoff’s victims, accused JP Morgan of doubting Madoff’s business. JP Morgan has demanded a trial in retaliation.
Picard has recovered $10 billion for Madoff’s victims. Winning a case against Madoff’s primary bank JP Morgan could help restore much of the missing $65 billion in paper wealth.
(More on TIME.com: Madoff’s banker asks: Where was JP Morgan Chase?)
Madoff’s fierce defense of his family shows that maybe all it takes to get your priorities straight is an 150-year prison sentence.