I Knew Bernie Madoff Was Cheating (Video)

If it sounds too good to be true, it probably is. Alleged smoke and mirrors from a Wall Street legend, Bernie Madoff, fooled many investors for a long time, but it seems that some knew he was cheating all along.According to Yahoo! Finance's TechTicker:

Interesting tidbits coming in about Bernie Madoff.

Specifically, we're hearing that the smart money KNEW Bernie had to be cheating, because the returns he was generating were impossibly good. Many Wall Streeters suspected the wrong rigged game, though: They thought it was insider trading, not a Ponzi scheme. And here's the best part: That's why they invested with him.

If it sounds too good to be true, it probably is. Alleged smoke and mirrors from a Wall Street legend, Bernie Madoff, fooled many investors for a long time, but it seems that some knew he was cheating all along. Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio