Madoff emails

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Bernie Madoff emails

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Exhibit
A
Case 1:10-cr-00228-LTS Document 1172-1 Filed 10/08/14 Page 1 of 6
From:
Sent Date:
Subject:
MADOFF BERNARD L (61727054)
Thursday, October 2, 2014 3:30 PM
RE: RE: Information
To: [email protected]
Larry,
It was standard operating procedure during any regulatory exam for the examiners to request firms to print and
produce a customized computer report that reflected particular trades on specific periods as opposed to
submitting a run that had tons of trades that appeared on our normal run of transactions. Remember that we
transacted hundreds of thousands of trades daily most of which the examiners had no interest in. When we
received a request during the exam the examiner would say they want us to produce a "new " record or run that
reflected specific dates and trades of specific brokers and securities, We then would ask our systems staff to do
this and give the examiners the finished product. My point is that the examiners well well aware that theses
records were just produced and this so called charade that Frank claimed of putting the records in a refrig or
throwing them around is "absurd".Also there is no way that George or Jerry would think that the records they
produced were part of any fraud. It was only Frank that was aware of this.
Keep in mind that because of our required Chinese wall regulations. There was no cross dep't. knowledge of
firm inventory positions or custody locations or arrangements. No employee or supervisor or systems people had
any way of knowing the actual net positions of the firm. This is an example of the info I am offering. You might
pass on this info to the other attorneys. One example of that info is that Our firm had trading and clearing
arrangements with many major European firms that regularly offered clearing and Custody arrangements to
broker dealers like us these same firms and banks executed trades with us and received and delivered securities
to us daily. As a matter of fact our stock record reflected "CLEARING BANKS" as the location of our securities.
This could mean any of the above firms and banks or the numerous clearing and depositories that BLIMPS and
McAdoo International were members of. Also because Annette nor Dan nor Jodi had any knowledge of what the
firm had in our inventory because of the above procedures meaning the so called back dating and creation of
trades for clients would not mean that Annette or the others were doing anything that was not allowed like
correcting errors such as "AS OF "trades which was an every day occurrence of firms that handled our type of
business.There is also the allowbable practice of moving trades and positions from the firm trading account int
the firm INVESTMENT account with a thirty or sixty day look back period.
-----Krantz, Larry on 10/2/2014 8:27 AM wrote:
>
Hi Bernie.
I was just checking in to see if you could let me know what infornmation you have that my help. As you may
recall, I represent George Perez.
Thanks very much.
Larry Krantz
BERNARD L MADOFF on 9/29/2014 9:19:28 AM wrote
Gentlemen,
I'm not sure at what stage you are at with your clients cases. As you know i have offered to provide certain
relevant info that I believe is of value to your clients defense. Because if my past hospital stay our visit was
cancelled. I am still available to help if you desire. I assure you that my info in each of you clients cases is of
great value and discredits the testimony provided by frank D. If you would like to proceed please contact me and i
will provide the details of the information
Bernie
Larry Krantz
10/8/2014 of Page 1 1
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Case 1:10-cr-00228-LTS Document 1172-1 Filed 10/08/14 Page 3 of 6
From:
Sent Date:
Subject:
[email protected]
Friday, October 3, 2014 10:05 AM
Question
To: BERNARD L MADOFF (61727054)
Bernie:
Thank you for your e-mail. It was very helpful. A question for you:
Would you be able to write an email describing what you recall was said at the meeting you had with George,
Jerry and Frank in your office in approxiately September 2006, where you discussed the fact that George and
Jerry were uncomfortable working on certain projects? I think you are aware of what meeting I am referring to, as
we discussed it when we visited you. Of course, we are only looking for your truthful recollection of what
occured.
That would be a big help to us, as we might be able to submit it to the Court in support of our arguments. BTW:
we have a submission due on Monday, so if there is any chance you could do this by then, it would be most
apprectaed!
Thanks again.
Larry
Larry Krantz
10/8/2014 of Page 1 1
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Case 1:10-cr-00228-LTS Document 1172-1 Filed 10/08/14 Page 5 of 6
From:
Sent Date:
Subject:
[email protected]
Tuesday, October 7, 2014 10:24 PM
RE: Question
To: BERNARD L MADOFF (61727054)
Thank you Bernie. I have submitted your email to the Court.
Larry
BERNARD L MADOFF on 10/7/2014 7:09:48 AM wrote
Larry,
First frank came up alone and said that they told him they were uncomfortable creating some of the reports. I
told Frank that he should bring them up to my office .I immediately told them that I did not want them or any one
else to perform any job that they were uncomfortable with. They then I believe ,they if I was buying the securities
that they showed on the reports. I answered ,"of course" and explained that I had trading and custodial
arrangements with all the major investment banks in Europe and the U.S. who traded with us every day. They
certainly were well aware of this as were all my employees. Remember that our market making and prop traders
executed hundreds of thousands of trades daily with every one of the above dealers. we executed approx. 10 %
of the stock trades of the U.S. daily. I also showed them account statements from Bear Stearns, Morgan Stanley,
Fidelity and Lehman Bros. That showed billions of dollars of the same U.S. T bills that we had in Client accounts
as proof. These were actual positions BTW.Also remember that they were certainly aware of the fact that we had
undergone at least two regulatory exams a year with no problems. They were also aware that we had numerous
Due Diligence visits with no problems as well as Due Diligence exams fro all the big four accounting firms. I then
ended the meeting by saying that if they were still uncomfortable. I did not want them to still work of these
projects.
Larry Krantz
10/8/2014 of Page 1 1
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