Ex-Madoff Associate Testifies Media Scrutiny Wasn't Red Flag

Law360, New York (February 19, 2014, 7:06 PM EST) -- Daniel Bonventre, one of five former Bernard Madoff associates on trial over the Ponzi scheme, endured a contentious cross-examination Wednesday in which he testified that a 2001 news article questioning Madoff's extraordinarily high returns did not raise red flags.

Madoff's former director of operations, who took the unusual step Tuesday of testifying in his own defense, was pressed by Assistant U.S. Attorney Randall Jackson about his reaction to an article in Barron’s magazine describing the secretive nature of Madoff’s securities business. The article — portions of...
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