Pravin Rao Quoted on Family Involvement in $50 Billion Fraud Scheme

Though most fraud experts aren’t convinced, Bernard Madoff, a money manager recently charged with fraud, claims that he was alone in his complex $50 billion scheme. Among those under suspicion as accomplices are Madoff’s brother, two sons and niece, who all worked at his securities firm. However, Investigations & White Collar Partner Pravin Rao opinions that the suspected accomplices “may not necessarily have known,” as was quoted in the Reuters article “Claim Madoff Acted Alone Meets Skepticism.” “Sometimes family members are shielded from the fraud in a perverse way of protecting them,” said Rao.