Madoff Aides Knew 'Bernie Claus' Wasn't Real: Prosecutor

Law360, New York (March 13, 2014, 8:17 PM EDT) -- Five former Bernie Madoff associates who have insisted they didn’t know about the Ponzi scheme are like adults who claim to still believe in Santa Claus, a federal prosecutor said Thursday during a combative trial session that featured a slew of curse words and objections.

Assistant U.S. Attorney Randall Jackson began his closing arguments in the marathon trial by comparing Madoff to Santa Claus, an extraordinary man who was “generous for no apparent reason” and who solicited investments in the form of "milk and cookies" while...
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