December 25, 2012 at 02:11 AM EST
Madoff, in Christmas Eve Letter, Says Insider Trading Has Gone on 'Forever '
The recent rash of insider trading cases may be a shock to some on Wall Street, but not to one long-time market player: Bernie Madoff. In a Christmas Eve letter from the medium security federal prison in North Carolina where he is serving a 150-year sentence for running a massive Ponzi scheme, Madoff tells CNBC that insider trading has been around "forever."
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