Madoff Aide Generated Fake Papers for Scam: Workers

Feds continue to hunt for cohorts
By Mary Papenfuss,  Newser User
Posted Mar 9, 2009 6:42 AM CDT
Bernie Madoff employees have told federal investigators they were instructed to come up with trading tickets showing trades that never occurred.   (AP Photo/Richard Drew)
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(Newser) – A longtime Bernie Madoff aide generated fake trading tickets for the accused swindler to use to document trades that never took place, workers have told federal authorities. The employees were instructed to research stock trade prices, then create bogus tickets showing purported trades and fake profits in line with made-up statements, reports the Wall Street Journal. The information emerged as investigators continue to search for cohorts in the scam.

Many believe it would have been impossible for Madoff alone to pull off the $50 billion swindle he's accused of. Madoff is expected to plead guilty this Thursday to charges that will include wire, mail and securities fraud, as well as money laundering, said a source. Madoff's wife, meanwhile, has retained a separate attorney, reports Newsday. Ruth Madoff is sitting on $70 million she claims is hers alone.