Worldfocus

Bernard Madoff pleaded guilty on Thursday to what may have been the biggest swindle in Wall Street history — a multi-billion dollar Ponzi scheme. Madoff was immediately jailed and will be sentenced in June.

“As the years went by,” he told the court, “I realized my risk and this day would inevitably come.”

The Wall Street Journal, among others, reported on Thursday that authorities believe an operation in London played a role in Madoff’s fraud.

Tom Lauricella, one of the Wall Street Journal reporters who wrote the story, joins Martin Savidge to discuss how the London operation worked, its size and the possibility of additional criminal charges.