New Suit Claims Madoff Endorsed A 'Wild, Fast-Talking, Drug-Using Office Culture'

New Suit Claims Madoff Endorsed A 'Wild, Fast-Talking, Drug-Using Office Culture' - 10/21/2009 , Class Action News, Class Action, Securities News, shareholder class action, claim, litigation, securities action, common stock'>

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New Suit Claims Madoff Endorsed A 'Wild, Fast-Talking, Drug-Using Office Culture'
Staff Writer

Associated Press. October 21, 2009
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EXCERPT: Fallen financier Bernard Madoff has plunged from his Manhattan penthouse to the lower bunk of a cell he shares with a drug offender at a federal prison, where he eats pizza cooked by a child molester and hangs around with a mob boss and a convicted spy, according to legal papers filed Tuesday. The snapshot of Madoff's prison life — and a contrasting picture of a former high-flying life laced with cocaine and salacious parties — are in a legal complaint filed by Burlingame, California-based lawyer Joseph Cotchett, who represents about a dozen victims of Madoff's massive investment Ponzi scheme. Cotchett interviewed Madoff in July at the Butner Federal Correctional Complex near Raleigh, North Carolina. […] The lawsuit goes to length to compare Madoff's prison existence with his deluxe former life, including photos of his yacht and homes and claims that he ran an office rife with drug use and sexual escapades. According to the allegations — their source isn't specified — Madoff deployed an employee to get drugs from 1975 to 2003, fueling an office so cocaine-laden insiders dubbed it "the North Pole." Office parties featured topless waitresses, employee affairs were common and Madoff kept a list of his favorite pretty masseuses in his personal phone book, the lawsuit said, claiming investors' money helped pay for it all. "Employees described it as a wild, fast-talking, drug-using office culture," said the complaint. It says its various allegations are based in part on interviews with other unnamed people besides Madoff.

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