Any comments about Mr Madoff? - Page 9

classicman · 03-09-2009, 04:00 PM

Madoff victims' lawyers converge on New York

Quote:

The alliance, formed last month in Madrid, comprises 34 law firms and 5,000 lawyers from countries stretching from Chile to Israel and Austria to the United States.
The huge grouping is attempting to coordinate a response to Madoff's alleged Ponzi scheme in which investors worldwide lost their money in a decades-long scam.

Quote:

However a deal might mean that relatives heavily involved in his business -- such as his two sons -- and who have not been charged, might win more protection, observers say.

Another figure that Madoff may be seeking to shield is his wife Ruth, who also has not been charged.

Victims of the Madoff investment collapse raised eyebrows at accusations that she withdrew 15.5 million dollars from a brokerage linked to her husband just before his arrest and alleged confession in December.

Ruth Madoff's lawyer has also taken steps to try to prevent victims or prosecutors from seizing 70 million dollars in assets that she claims are solely hers and not shared with her husband.

cough\BULLSHIT/cough

lookout123 · 03-09-2009, 04:13 PM

My guess is that the whole family was in on it and things were going just peachy until the recession kicked the crap out of the scam. Old Man Madoff decided to take the fall on his own because he doesn't have that much time left anyway. His boys get away scott free having turned in dad to take the fall for all their crimes.

/adjusts tinfoil/

sugarpop · 03-09-2009, 05:01 PM

I heard on the news that he was making a deal so his wife could keep the $7 million condo (or house, whatever) in NY and the $65 million they have. I certainly hope they don't let her keep it. That would just be wrong.

classicman · 03-09-2009, 06:20 PM

Psst - hey Sugah see post 141

sugarpop · 03-11-2009, 08:48 AM

Apparently he is pleading guilty, which means he is under no obligation to help the prosecution in any way find the money. I hope they investigate his sons and wife as well, and investigate every single person at his firm.
http://www.bloomberg.com/apps/news?p...dg7oo&refer=us

http://dealbook.blogs.nytimes.com/20...ure-demand/?hp

His wife is getting her own attorney
http://www.msnbc.msn.com/id/29598391/

classicman · 03-11-2009, 09:41 AM

I too hope they investigate AND prosecute all of them. Perhaps seize their assets as well and put it towards those who were wronged.

Additionally, I'd like to see all those "regulators" or whatever who were basically informed of what was going on and did nothing investigated and prosecuted as well since that was their responsibility.

glatt · 03-11-2009, 09:51 AM

If he's pleading guilty without making a deal with the prosecution, then I think it's likely he is falling on his sword to protect his family. I would hope any investigation would include the family, and if there is enough evidence found to implicate them, they should be charged as well.

It irks me that the family should retain any wealth at all. They should lose virtually everything and be put in a position of starting over from scratch, assuming they don't go to jail too.

sugarpop · 03-11-2009, 10:26 AM

Quote:

Originally Posted by glatt

If he's pleading guilty without making a deal with the prosecution, then I think it's likely he is falling on his sword to protect his family. I would hope any investigation would include the family, and if there is enough evidence found to implicate them, they should be charged as well.

It irks me that the family should retain any wealth at all. They should lose virtually everything and be put in a position of starting over from scratch, assuming they don't go to jail too.

Well my take is, since he didn't make a deal, they are not protected. I believe (hope) they will be investigated, and I agree, in cases like this, people who acquire wealth should have to lose all of it to help make retribution and start over.

glatt · 03-11-2009, 10:46 AM

Quote:

Originally Posted by sugarpop

Well my take is, since he didn't make a deal, they are not protected.

Yes and no. While it's true that there is no official protection from the government now, any deal he would have made would have required him to divulge information about the entire scam and would likely have implicated his family. So making a deal for a lighter sentence would have hurt his family more than pleading guilty and shutting his mouth. He is protecting the family from the government as best he can by staying quiet. They are more protected this way.

sugarpop · 03-11-2009, 10:22 AM

Quote:

Originally Posted by classicman

I too hope they investigate AND prosecute all of them. Perhaps seize their assets as well and put it towards those who were wronged.

Additionally, I'd like to see all those "regulators" or whatever who were basically informed of what was going on and did nothing investigated and prosecuted as well since that was their responsibility.

yeparoo, espcially they since they were warned, over and over and over by that Markopoulis guy. He tried for what, 12 years? to get them to investigate? Lazy bastards never did anything. If they had done their damn job, from the beginning, none of this would have happened. People who have oversight get way too comfortable with the people they are supposed to be regulating and watching. It's almost incestuous.

classicman · 03-11-2009, 10:09 AM

The bloomberg article link from sugarpop (post # 145) is very good.
I agree glatt, I think he is trying to protect his family and whomever. Sickens me that he is basically gonna get away with it. The money, if it really existed, is already gone.

sugarpop · 03-11-2009, 06:20 PM

I suppose time will tell. If he had a made a deal, he might have been able to get them immunity. But then again, maybe not. IF they are guilty, I hope they go down as well. Too many people and organizations were hurt by his actions.

classicman · 03-12-2009, 01:18 PM

Billionaire Stanford to take the 5th in fraud case

Quote:

DALLAS – Texas billionaire R. Allen Stanford and one of his top officials have asserted their Fifth Amendment right against self-incrimination in the federal government's fraud case against them and Stanford's companies, according to court documents filed Wednesday.

Stanford said he will "decline to testify, provide an accounting or produce any documents" related to the Securities and Exchange Commission's civil case, which accuses him of running a "massive Ponzi scheme."

Finance chief James M. Davis, using similar language, also asserted his right not to incriminate himself.

Anyone for waterboarding?

Pie · 03-12-2009, 01:32 PM

No.

Shawnee123 · 03-12-2009, 01:32 PM

Yeah, I have a comment. He's been wearing a bullet-proof vest going to court, because so many people are so angry, but his big giant pasty head is hanging out there like a beacon. Why don't people ever get bullet-proof ski masks or something?

03-09-2009, 04:13 PM	#2
lookout123 changed his status to single Join Date: Apr 2004 Location: Right behind you. No, the other side. Posts: 10,308	My guess is that the whole family was in on it and things were going just peachy until the recession kicked the crap out of the scam. Old Man Madoff decided to take the fall on his own because he doesn't have that much time left anyway. His boys get away scott free having turned in dad to take the fall for all their crimes. /adjusts tinfoil/ __________________ Getting knocked down is no sin, it's not getting back up that's the sin

03-09-2009, 06:20 PM	#4
classicman barely disguised asshole, keeper of all that is holy. Join Date: Nov 2007 Posts: 23,401	Psst - hey Sugah see post 141 __________________ "like strapping a pillow on a bull in a china shop" Bullitt

03-11-2009, 09:41 AM	#6
classicman barely disguised asshole, keeper of all that is holy. Join Date: Nov 2007 Posts: 23,401	I too hope they investigate AND prosecute all of them. Perhaps seize their assets as well and put it towards those who were wronged. Additionally, I'd like to see all those "regulators" or whatever who were basically informed of what was going on and did nothing investigated and prosecuted as well since that was their responsibility. __________________ "like strapping a pillow on a bull in a china shop" Bullitt

03-11-2009, 10:09 AM	#11
classicman barely disguised asshole, keeper of all that is holy. Join Date: Nov 2007 Posts: 23,401	The bloomberg article link from sugarpop (post # 145) is very good. I agree glatt, I think he is trying to protect his family and whomever. Sickens me that he is basically gonna get away with it. The money, if it really existed, is already gone. __________________ "like strapping a pillow on a bull in a china shop" Bullitt

03-12-2009, 01:32 PM	#14
Pie Gone and done Join Date: Sep 2001 Posts: 4,808	No. __________________ per·son \ˈpər-sən\ (noun) - an ephemeral collection of small, irrational decisions The fun thing about evolution (and science in general) is that it happens whether you believe in it or not.

03-09-2009, 05:01 PM	#3
sugarpop Professor Join Date: Nov 2008 Location: the edge of the abyss Posts: 1,947	I heard on the news that he was making a deal so his wife could keep the $7 million condo (or house, whatever) in NY and the $65 million they have. I certainly hope they don't let her keep it. That would just be wrong.

03-11-2009, 08:48 AM	#5
sugarpop Professor Join Date: Nov 2008 Location: the edge of the abyss Posts: 1,947	Apparently he is pleading guilty, which means he is under no obligation to help the prosecution in any way find the money. I hope they investigate his sons and wife as well, and investigate every single person at his firm. http://www.bloomberg.com/apps/news?p...dg7oo&refer=us http://dealbook.blogs.nytimes.com/20...ure-demand/?hp His wife is getting her own attorney http://www.msnbc.msn.com/id/29598391/

03-11-2009, 09:51 AM	#7
glatt ™ Join Date: Jul 2003 Location: Arlington, VA Posts: 27,717	If he's pleading guilty without making a deal with the prosecution, then I think it's likely he is falling on his sword to protect his family. I would hope any investigation would include the family, and if there is enough evidence found to implicate them, they should be charged as well. It irks me that the family should retain any wealth at all. They should lose virtually everything and be put in a position of starting over from scratch, assuming they don't go to jail too.

03-11-2009, 06:20 PM	#12
sugarpop Professor Join Date: Nov 2008 Location: the edge of the abyss Posts: 1,947	I suppose time will tell. If he had a made a deal, he might have been able to get them immunity. But then again, maybe not. IF they are guilty, I hope they go down as well. Too many people and organizations were hurt by his actions.

03-12-2009, 01:32 PM	#15
Shawnee123 Why, you're a regular Alfred E Einstein, ain't ya? Join Date: Jun 2006 Posts: 21,206	Yeah, I have a comment. He's been wearing a bullet-proof vest going to court, because so many people are so angry, but his big giant pasty head is hanging out there like a beacon. Why don't people ever get bullet-proof ski masks or something? __________________ A word to the wise ain't necessary - it's the stupid ones who need the advice. --Bill Cosby

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)