Madoff pays dividends in book deals
Not everyone in the orbit of accused mega-thief Bernard Madoff wants to give him the old pitchfork-and-torches treatment. In the past 24 hours, I received two press releases touting book deals for reporters who are going to write about the man who purportedly stole $50 billion from a variety of rich people, hedge funds, charities and universities.
Here is an excerpt from the first one:
The Portfolio imprint of Penguin Group (USA) Inc. has acquired DON’T ASK, DON’T TELL by Erin Arvedlund, a journalist who in 2001 wrote one of the first critical articles about Bernard Madoff, the recently indicted financier. World rights were bought by Adrian Zackheim, President and Publisher of Portfolio, from Esmond Harmsworth of Zachary Shuster Harmsworth. Publication is planned for the spring of 2010.
Arvedlund’s book, combining narrative and analysis, will share the same title as her May 2001 article in Barron’s — one of the first to ask tough questions about Madoff’s surprising results and unusual practices. That article, based on a four-month investigation and hundreds of interviews, was recently cited in an SEC complaint.
And here is the second:
Times Books, an imprint of Henry Holt and Company and a co-publishing venture between Holt and The New York Times, is proud to announce that editorial director Paul Golob has acquired world rights to a new book by New York Times senior financial writer Diana B. Henriques, which will investigate the crimes and consequences of the Bernard Madoff scandal. The deal for the book, tentatively titled A World of Lies, was negotiated by Henriques’s literary agent, Fredrica S. Friedman.
And a bit more:
Through her long career covering Wall Street, Henriques has developed an impressive roster of trusted sources whose insight and specific knowledge of Madoff’s fraud will provide her book with unmatched depth and breadth. Over the course of her career she has interviewed Bernard Madoff himself several times, and she is deeply familiar with the role he has played on Wall Street as an innovator and, now, as a swindler. No other reporter brings to this story Henriques’s level of experience and knowledge, and her book promises to be the definitive account of what Madoff did, how he pulled it off, how it all came crashing down around him, and its implications in the United States and around the world.
The only question now is which one will get optioned for Hollywood treatment first.