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(Image from article: "Madoff says banks had to know of Ponzi scheme: report")

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Madoff says banks had to know of Ponzi scheme: report

A frail Bernard Madoff, facing the rest of his life in prison, said a variety of banks and hedge funds were complicit in and "had to know" about his epic Ponzi scheme before it was uncovered, The New York Times reported.

Feds turn up heat on Wall St., raid 3 hedge funds

Federal investigators have turned up the heat on Wall Street, raiding three hedge funds in what one of the targets called a wide-ranging probe of insider trading.

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