Lawsuit: Madoff’s Workplace was Rife with Cocaine, Sex

All that’s missing is rock and roll:

A new lawsuit alleges that convicted swindler Bernie Madoff financed a cocaine-fueled work environment and a “culture of sexual deviance,” and he diverted money to his London, England, office when he believed federal authorities were closing in at home.
The lawsuit, filed Tuesday in New York’s State Supreme Court, was brought on behalf of former investors and seeks unspecified punitive damages and compensation.
Beyond that, it offers a look at what the plaintiffs’ attorneys say was once Madoff’s multimillion-dollar empire and what is now his world in a federal prison in North Carolina.
Among the allegations in the 264-page lawsuit are that during the mid-1970s, Madoff began sending employees to buy drugs for company use.
The complaint alleges that some employees and investors were aware of the drug purchases, and that BMIS [Bernard Madoff Investment Services] was known by insiders as the “North Pole” in reference to the excessive amount of cocaine use in the work place.

C’mon. It was the 70s. Who wasn’t sending employees out for blow?

Posted by on October 22nd, 2009 at 10:38 pm


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