Bernie Madoff says that the big banks knewÂ about the multi-billion dollar Ponzi scheme he masterminded and chose to turn aÂ blind eye.
Madoff, serving a 150 year sentence for hisÂ crimes, wrote an email from jail advising his victims to go after banks where heÂ held accounts if they wanted to get their money back.
‘The Banks had to know what I was doingÂ regarding the fraud,’ he wrote.
This isn’t the first time Madoff has claimedÂ the banks were complicit.
He had accounts with several banks and hedgeÂ funds, some of whom have been the target of ruined Madoff investors.
In 2011, two Madoff investors sued JPMorganÂ Chase for $19 million claiming the financial institution had helped in theÂ fraud.
Madoff did have an account with the bank thatÂ he used to transfer money from offices in London and New York, but the suit wasÂ dismissed by JPMorgan spokesman who called it ‘meritless.’
Trustees responsible for returning money toÂ the victims also sued JPMorgan and UBS. Those suits were tossed out of court.
JPMorgan has not responded to Madoff’sÂ claims.
Madoff has been increasingly vocal leading upÂ to recent claim which he sent to FoxÂ News.
In January he wrote to CNBCÂ toÂ criticize Wall Street’s signing bonuses for creating undue pressure on employeesÂ to promote special products.
In another letter sent to the same channel onÂ Christmas Eve, he took aim at the sick practices of modern finance then wroteÂ again earlier this month saying he regretted not going to trial instead ofÂ pleading guilty.