Bernie Madoff's ponzi scheme was shockingly un-sophisticated.— Trung Phan (@TrungTPhan) November 11, 2022
He essentially kept money in a single Chase checking account and paid out redemptions from it.
Before blowing up, the checking (checking!) account held $5.5B. pic.twitter.com/wG6Qo1RVOn
So, the banksters at JP Morgan Chase must have known about the Ponzi scheme but didn't do anything about it.