The world's biggest Ponzi schemer, Bernie Madoff, wrote a series of e-mails from prison to his "Wizard of Lies" biographer, Diana B. Henriques, in which he explains, clarifies and even defends the financial fraud he committed.

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The 73-year-old, currently serving a 150-year prison sentence, told Henriques one of his biggest regrets was not having gone to trial to tell his side of the story. The author points out, "It seems not to have occurred to him that he would have been publicly eviscerated in court."

Madoff began one of his e-mails, writing, "I hope you understand that I am in no way trying to rationalize my terrible behavior. I made the tragic mistake of trying to change the way money was managed and was successful at the start, but lost my way after a while and refused to admit I failed at one point."

Click here to read the full story. The article appears in the April 9 issue of Forbes.

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