Bernie Madoff’s North Pole: Cocaine-Fueled Sex Parties
Bernie Madoff‘s company was host to cocaine-fueled sex parties so often that it became known by insiders as the “North Pole.”
New allegations surfaced in a 264-page lawsuit filed Tuesday in New York’s State Supreme Court, detailing how Madoff financed a “culture of sexual deviance,” often sending employees to purchase drugs for company use.
The latest claims are based on discussions with former employees and interviews with Madoff himself from his cell in a North Carolina federal prison, where he is serving time for a massive Ponzi scheme.
According to the lawsuit, Madoff used money stolen from investors to fund his penchant for escorts and masseuses, and to pay for drugs and parties, where topless entertainers served as waitresses, and employees engaged in sex in places such as Madoff’s own office.
The suit also alleges that major financial institutions, including KPMG, the Bank of New York and JP Morgan Chase, were aware that Madoff was transferring stolen funds to his London office for personal purchases, accusing them of being “primary players necessary to accomplish [Madoff's] fraud.”
Madoff insists he acted alone.
