A new theory is emerging among Wall Street intelligentsia: The detailed story in the indictment about how Bernie Madoff's sons confronted him about his weird behavior, he floated a lie, he finally confessed, and then they turned him in is just a cover story.
Bernie's sons were in on the fraud up to their ears, this theory goes. This elaborate "confession" story is just another Madoff hoax designed to spare the next generation.
No proof or even evidence yet. But the FBI will no doubt be investigating this angle.
See Also:
Bernie Madoff (Hosed) Client List
Honest Money Managers Cheer For Bernie Madoff Arrest
I Knew Bernie Madoff Was Cheating--That's Why I Invested With Him
