Jim Weddle and Bernie Madoff Link
It seems as though EDJ sent out an internal memo to their advisors that their may be some “BAD” press regarding the relationship Jim Weddle had with Bernie Madoff! What’s the Truth?
Yeah, Jones used to route some trades through Madoff Securities. They made markets in certain securities. Has nothing to do with Madoff Advisors or whatever his ponzi scheme shell corp was called. We simply routed trades for specific securities through them. I didn’t hear anything else.
B24 is right. Apparantly Madoff owned quite a few businesses, and one was that… Bad to be associated with his name now, though. But, I can tell you EJ doesn’t ‘invest’ it’s own profits into much besides T-notes and bills, and the business.
If I recall, Madoff was one of the founders of NASDAQ and a pioneer in electronic trading. I would assume every firm routed some transactions through his market makers.