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Twist in the growing Bernie Madoff scandal NYPD commissioner -- Kelly yesterday confirming an apparent suicide.
Want to burden off -- if investors.
-- Security -- door open door.
And they found.
The man at his desk.
There was no suicide note it appears.
-- cuts made to his.
On to his wrist and also to his biceps area but take box cutter who appeals present unknown missiles.
-- -- -- Ingested.
And there was no.
-- suicide note that was a statement by the attorney of this firm.
That if they have lost -- one point five billion dollars with the but -- -- Situation.
Well below she gave a gentleman that he was talking about that it commissioner Ray Kelly was talking that was the co-founder of -- -- international on geysers.
-- -- was found yesterday -- -- yesterday as that Richard just told us from his Manhattan office after apparently suffering.
As he mentioned just about one point five billion dollars.
Of losses and that alleged fifty billion dollars Bernie Madoff scandal the case now taking on international intrigue as well the Wall Street Journal reporting this morning.
That Indiana based bank -- has emerged as one of the most exposed European banks.
With roughly two point one billion invested.
With Madoff firm joining us with the very latest in the case -- the Wall Street Journal's.
-- deputy editor Dennis Berman who has been on the story from the very start Dennis good to see it see it.
So what is the very latest I mean this this the tentacles on this story seem like they they keep going farther and farther.
Farther and -- it's so incredible to see how the flow of money works its such a global business this asset management business and and so we're seeing the people who invested in Bernie Madoff directly if that's financial investors so bank Medici which is but -- -- small Italian bank.
As you said two point one billion dollars that's an incredible amount of money you -- well this is an isolated bank.
But it's 25%.
Owned by a far larger Italian bank.
Take a look at some of the of the charities that invested with Bernie Madoff either directly.
Or through friends of friends it goes on and on on and we truly not seen where -- -- and it will continue probably for the next few months and interesting thing.
A bad -- -- that we're we're talking about as well as here's a guy who actually.
-- and quietly and name -- I had a very very strong reputation justice -- Bernie Madoff did while running the NASDAQ.
And we understand that one of his biggest investors was -- the daughters at the Laurie -- -- Yes well he also has it truly -- background.
He helped put money into what became a -- investors -- that's a New York based private equity fund.
That apart -- Harris he helped create this the spoke of the young black who sits -- a big figure on Wall Street.
He he grub stake him back in the eighties so everyone -- here -- -- to everyone knows one another.
Then that they they give when -- one another based largely on trust -- I know you you know I mean we can do business together.
One of the things that you guys wrote about that gets published in today's journal is about the fact that.
Concerns dating back to the seven -- -- that his investment style and whether or not.
There were some really illegitimate things going on even back then tell me about that this is the most.
-- -- things come out of a few days and that is some of the trading records which.
Appeared to show his trading strategy some people question in the back seventeen years ago and that was -- part because he said he was.
Buying options and puts an -- in the markets -- people were.
Verifying those those traits back seventeen years ago -- -- well.
There just isn't enough of a market to support the amount of -- and and calls that you're buying burning man out so beneath the surface there was certainly.
A group of people who said this guy -- something not right about -- so it's not like it surprised everyone it's a surprise enough people.
To create some new office is unbelievable could begin -- met with the SEC didn't do over -- -- -- seven or eight years but there's a lot more to this story.
Fans -- thank you very much as solid as a talking -- -- --
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