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Somebody Knew Madoff Was Bad News

Quote of the day

by
Marc Tracy
March 24, 2011
Muammar Gaddafi last year.(Ernesto Ruscio/Getty Images)

Muammar Gaddafi last year.(Ernesto Ruscio/Getty Images)

Libya became so flush with cash that Bernard L. Madoff, the New York financial manager who stole billions of dollars in a long-running Ponzi scheme, approached officials overseeing the country’s $70 billion sovereign fund a few years ago about an “investment opportunity,” according to a State Department summary of the episode in 2010. “We did not accept,” a Libyan official reported.

Marc Tracy is a staff writer at The New Republic, and was previously a staff writer at Tablet. He tweets @marcatracy.