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Suit says Madoff's offices were awash in cocaine, topless parties and 'sexual revelry

By Terrapinzflyer, Oct 21, 2009 | |
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  1. Terrapinzflyer
    Suit says Madoff's offices were awash in cocaine, topless parties and 'sexual revelry'


    Convicted Ponzi schemer Bernie Madoff promoted a "culture of sexual deviance" at his New York headquarters that featured vast quantities of cocaine and drug-fueled parties with topless waitresses, according to details of a new lawsuit.

    "Madoff's affinity for escorts, masseuses and attractive female employees was well known in the office culture," the complaint says. "A significant amount of the money stolen from investors went towards these lavish indulgences as well as other expenses for his employees, family and favorite feeders."

    The suit charges that a number of the "feeders" brought investors to Madoff and also took part in the "sexual revelry" including trysts on his office couch.

    The complaint, filed by California lawyer Joseph Cotchett on behalf of dozens of fraud victims, says coke was so rampant in his Manhattan headquarters that it was known as "The North Pole."

    Cotchett interviewed the 71-year-old Madoff for four hours this summer at his prison in North Carolina, where he is serving a 150-year sentence for fraud.

    The lawsuit seeks financial damages from more than a dozen companies and individuals associated with Madoff, claiming the organizations should have detected Madoff's fraud.

    Details of the complaint, filed Tuesday night, are carried by the Associated Press, The New York Daily News, the Los Angeles Times and other news outlets.

    According to the filing, Madoff -- as far back as 1975 -- kept two street thugs on his payroll to set up a cocaine pipeline in the offices of Madoff Securities.

    The Los Angeles Times quotes Madoff attorney Ira Lee Sorkin as saying there was no reason for such sex and drug allegations to be included in the filing.

    "Is this in here because he wants to win the case, or to attract attention from People magazine?" Sorkin is quoted as saying.

    Update at 10:53 a.m. ET: The lawsuit also offers considerable detail about Madoff's life in prison, the AP reports.

    It says the onetime financial wizard shares a cell with a drug offender and eats pizza cooked by a child molester.

    Madoff spends time with Carmine Persico, a reputed Colombo crime family boss, and Jonathan Pollard, an American convicted of selling military secrets to Israel more than two decades ago, according to the lawsuit.

    For fun, he takes nighttime walks around a prison track.


    Except from the filing in the NY Supreme Court

    http://blogs.usatoday.com/ondeadlin...ne-topless-waitresses-and-sexual-revelry.html

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