Forewarned But Not Forearmed

The Madoff disaster could have been averted if perhaps some warning signals, shot as early as 1992 had been given due attention. Documents relating to NYU lawsuits against the financier Ezra Merkin bear testimony to that. Teicher, an erstwhile employee of Merkin had inhis deposition stated that he had warned Merkin that Madoff’s investment didn’t “smell right”.