After analyzing about 160 individual options trades, we found that for half of them no trades occurred on the exchange where Madoff said that they supposedly took place. For many of the remaining half that did trade, the quantity reported by Madoff just for my client’s two accounts exceeded the entire volume reported for everyone.
Wow, this was in 1991. Why didn’t anyone else do this same checking to bring Madoff down sooner? This is among the clearest signs of fraud you could imagine.
