re: Did Madoff's wife and kids know about the scheme

quote:

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At the time, a lot of Wall Street firms had similar arrangement. A high school graduate/college dropout with decent connections could get an entry level gig inputting trades in a boiler room type setting. It was the wall street equivalent of janitorial staff. These days, it takes a Masters to get an interview.

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I could be wrong but it's always been my understanding that the 17th floor didn't really have supervisors. It was a skeleton crew that had very few ties to finance. They weren't connected, educated or experienced.

To me Madoff's sons had to have known he was managing billions, his 17th floor didn't have anywhere close to the staff required to do that job and their dad was super shady whenever the 17th floor was brought up. There's no way they didn't suspect real fraud was occurring.