Guest MonkeySee Posted February 11, 2009 Posted February 11, 2009 The crux is they can't decide if she's a victim or an accomplice. She is as much a crook, as he is, in my book. The following story said she withdrew $15.5 million from Madoff's account days before his arrest. That tells you something, doesn't it? BOSTON/NEW YORK (Reuters) – The wife of Bernard Madoff withdrew more than $15 million from an account linked to the accused swindler in the days before his arrest, Massachusetts authorities said on Wednesday, adding a new layer of intrigue into the probe of the purported $50 billion scam. Ruth Madoff pulled $10 million on December 10, the day before her husband was arrested and charged with running a global investment fraud, and $5.5 million on November 25, according to Massachusetts Secretary of State William Galvin. Galvin did not file any charges against Ruth Madoff. The disclosure of her withdrawals came in reports produced by Cohmad Securities, a firm co-owned by Bernard Madoff that had funneled millions of dollars from its clients to Madoff. Bernard Madoff, 70, is the only person charged so far in the alleged scam that has hit banks, charities, wealthy investors and celebrities worldwide. Madoff told authorities he acted alone in confessing to the fraud, prosecutors have said. Legal experts, however, have said they are skeptical that such a massive fraud could have been pulled off by one person. Full story at: http://news.yahoo.com/s/nm/20090211/bs_nm/us_madoff_4 Quote
Guest MonkeySee Posted February 21, 2009 Posted February 21, 2009 A 90 year old man who lost his $700,000 life savings to the Madoff ponzi fraud is forced out of retirment and is working a job that pays $10 an hour. And old Bernie is enjoying the luxury of his New York apartment. The slime ball needs to be in jail. Here is a link to the story: http://cosmos.bcst.yahoo.com/up/player/pop...&ch=4226713 Quote
Guest fountainhall Posted February 21, 2009 Posted February 21, 2009 A 90 year old man who lost his $700,000 life savings to the Madoff ponzi fraud is forced out of retirment and is working a job that pays $10 an hour Wow, I sure do admire that man! In his position at his age, I don't know where I'd find the will to go on. Quote
Guest MonkeySee Posted February 22, 2009 Posted February 22, 2009 Wow, I sure do admire that man! In his position at his age, I don't know where I'd find the will to go on. I admire this guy, too. He has a zest for life. Looks like he plays the cards that this world deals him. Sad to see that he has to go back to work, but it seems he is taking it in stride. Quote
Guest MonkeySee Posted March 3, 2009 Posted March 3, 2009 NEW YORK – Bernard Madoff is seeking to keep a $7 million Manhattan penthouse and an additional $62 million in assets, saying they are unrelated to the fraud that authorities say cost victims more than $50 billion. In court papers filed Monday in U.S. District Court in Manhattan, Madoff and his lawyer claim the apartment, $45 million in municipal bonds and $17 million more in a separate account all belong to Madoff's wife, Ruth. Full story: http://news.yahoo.com/s/ap/20090303/ap_on_.../madoff_scandal Quote
Guest lvdkeyes Posted March 3, 2009 Posted March 3, 2009 NEW YORK – Bernard Madoff is seeking to keep a $7 million Manhattan penthouse and an additional $62 million in assets, saying they are unrelated to the fraud that authorities say cost victims more than $50 billion. In court papers filed Monday in U.S. District Court in Manhattan, Madoff and his lawyer claim the apartment, $45 million in municipal bonds and $17 million more in a separate account all belong to Madoff's wife, Ruth. Full story: http://news.yahoo.com/s/ap/20090303/ap_on_.../madoff_scandal And his wife didn't profit from his corrupt business dealings? The government should seize it all. Quote
Guest MonkeySee Posted March 5, 2009 Posted March 5, 2009 And his wife didn't profit from his corrupt business dealings? The government should seize it all. When you are as well connected as Bernie seems to be, you might be able to get away with murder! Quote
Guest lvdkeyes Posted March 5, 2009 Posted March 5, 2009 When you are as well connected as Bernie seems to be, you might be able to get away with murder! OJ did!!!! Quote
Guest MonkeySee Posted March 6, 2009 Posted March 6, 2009 OJ did!!!! Not for long. He ended up where he belongs. Now, who doesn't believe in karma? Quote
Guest MonkeySee Posted March 11, 2009 Posted March 11, 2009 NEW YORK – In a courtroom surprise, it was revealed Tuesday that Bernard Madoff will plead guilty Thursday to securities fraud, perjury and other crimes, knowing that he could face up to 150 years in prison for one of the largest frauds in history. The revelation came as prosecutors unveiled an 11-count charging document against the 70-year-old former Nasdaq chairman, and as his lawyer, Ira Sorkin, told a judge that Madoff planned to plead guilty this week without a plea deal. Full story at: http://buzz.yahoo.com/article/1:y_news:476...to-150-years-AP Quote
Gaybutton Posted March 11, 2009 Posted March 11, 2009 he could face up to 150 years in prison No problem. He'll just buy the prison . . . Quote
Guest Astrrro Posted March 12, 2009 Posted March 12, 2009 This thread needs to be retitled. Bernie is now a proud resident of the Metropolitan Correction Facility. New Yorkers call it the Tombs. Quote
Guest MonkeySee Posted March 13, 2009 Posted March 13, 2009 The number of victims from Bernard Madoff's alleged Ponzi scheme continues to grow. A list with thousands of names of clients who invested money with Mr. Madoff was released as part of a bankruptcy-court filing. Below, see some of the most exposed investors and sort by the amount of potential losses.(See full Madoff Client List) --Updated 03/06/09 Full story at: http://s.wsj.net/public/resources/document...s_20081215.html Quote
Gaybutton Posted March 14, 2009 Posted March 14, 2009 The following appears in the BANGKOK POST: _____ A cell at the New York's Metropolitan Correctional Center Madoff Wakes Up to Life as Prisoner By: AFP NEW YORK - Bernard Madoff awoke Friday -- at 6:00 am and in a narrow bunk -- on the first day of his new life as Prisoner 61727-054 after pleading guilty to massive fraud. The spartan eight-by-seven-and-a-half foot (2.43-by-2.28-meters) cell at New York's Metropolitan Correctional Center will be home for Madoff, 70, until he is sentenced on June 16. While the confessed multi-billion-dollar conman settles in, federal investigators are examining who helped him perpetuate the "unprecedented" Ponzi scheme, in which thousands of investors were targeted over decades. "We are continuing to investigate the fraud and will bring additional charges against anyone..., as warranted," US prosecutor Lev Dassin said. Victims revelled in Madoff's jailing and US media immediately published pictures of the type of cell that one of the country's most hated men now occupies. Pictures show there's just enough room to stand, wash and get dressed in the room -- a far cry from the seven-million-dollar Manhattan apartment that he lived in with wife Ruth until Thursday. Space will be even tighter if Madoff has to share his bunk bed with another prisoner at the Correctional Center, which holds the gamut of accused and convicted criminals, whether terrorists, gangsters, killers or rapists. Lights go on at 6 am, with breakfast half an hour later, lunch at 11 am and dinner at 5 pm, ABC television reported. At 11 pm, it's bedtime. After decades of pretending to be an investor, Madoff will have the chance to do some real work at the center, including janitorial duty. Alternatively, he could visit the prison library, which has a special section of books on the law. If he does have a cellmate -- not always a good thing in prison -- they could play ping pong or watch television in the common area. Should he like the life, Madoff is lucky: he faces being sentenced to as much as 150 years in a federal institution. And if he isn't happy, there's still an upside, MSNBC television pointed out. "He gets to avoid this less than desirable address: Death Row." The FBI and prosecutors are looking to see who else might go behind bars. Many of Madoff's victims are frustrated by the absence of other suspects and lack of progress on recovering the billions of dollars that vanished. Madoff pleaded guilty to 11 counts, but not conspiracy, something that would have flagged that investigators were closing in on others. But it's not possible that Madoff acted alone, victims say. "Just to produce the reams of documents that were received and the elaborate data that went into them must have required an army of people to produce," said George Nierenberg, one of the three victims allowed to address the court during Madoff's plea hearing. The media spotlight is falling increasingly on Madoff's family and close colleagues -- Ruth, brother Peter, and sons Mark and Andrew. On Thursday, Madoff sought to build a firewall around them, telling the court they worked for parts of his empire that were separate to his illegal activities and were "legitimate, profitable and successful." Lawyers said Friday that the authorities who failed to uncover Madoff's scam must now come to the rescue. "After Madoff pleads guilty at the hearing, it is time to take care of the victims," said a statement from The Global Alliance of Law Firms on the Madoff Case, which is pushing for an international court to deliver justice. Quote
Guest fountainhall Posted March 14, 2009 Posted March 14, 2009 But it's not possible that Madoff acted alone, victims say This is now accepted by everyone. But by pleading guilty, Madoff seems to be protecting those who participated in the fraud. I hope the prosecutors really go to town on all of them. Quote
Guest MonkeySee Posted March 15, 2009 Posted March 15, 2009 This is now accepted by everyone. But by pleading guilty, Madoff seems to be protecting those who participated in the fraud. I hope the prosecutors really go to town on all of them. Likewise. I hope justice can be served. If I were a betting man, I would bet most, if not all of the participants involved, will not be charged. Quote
Guest fountainhall Posted March 15, 2009 Posted March 15, 2009 Seems like the prosecutors are going after Madoff's wife. The following is from today's London Observer newspaper. Federal prosecutors in New York and the US Securities and Exchange Commission are preparing to file a legal action against Ruth Madoff amid fears that she will try to flee the United States or move her $70m fortune beyond their reach. Department of Justice sources told the Observer that prosecutors were "working around the clock" to build a criminal complaint against Mrs Madoff in an effort to ask a judge to freeze her bank accounts, which they believe are filled with the proceeds of her husband's crimes. Investigators seeking to unravel Madoff's Ponzi scheme have focused on two wire transfers made by his wife just before his arrest. On 25 November Ruth Madoff withdrew $5.5m from Cohmad Securities, a Massachusetts-based brokerage firm part owned by her husband. Then on 10 December - the day Madoff confessed his thefts to his sons and 24 hours before his arrest - she took an additional $10m from her account, filings show. Now Mrs Madoff claims that some $69m worth of her assets have no connection to her husband or his crimes. Among the assets she is desperate to keep are the $7m penthouse apartment on East 64th Street where Madoff was confined until he was jailed last Thursday, which is listed in her name; $45m in municipal bonds; and some $17m in cash. Quote
Guest fountainhall Posted April 2, 2009 Posted April 2, 2009 The noose around Madoff's assets and associates seems to be tightening at last. This from the BC's website. Marshals in Florida have seized the multi-million dollar Palm Beach house of disgraced US financier Bernard Madoff and his wife. Madoff's 55-foot (17m) yacht, named Bull, and a motor boat were seized earlier from two Florida marinas. Officials in Florida confirmed that the Madoff's house in the exclusive area of the state had been entered and secured. "We're seizing the property as we speak," Barry Golden of the US Marshals Service told Reuters. Earlier, regulators in Massachusetts brought civil fraud charges against the Fairfield Greenwich Group, saying company officials had been coached by Madoff on how to answer questions by federal investigators about his investment practices.Fairfield Greenwich - which had reportedly invested some $7bn (£5bn) with the disgraced financier - denied the allegations, saying it would "vigorously" contest them. Quote
Guest MonkeySee Posted April 2, 2009 Posted April 2, 2009 It is about time the authorities do their job. I know Madoff's accountant has been charged. Hard for me to believe that Madoff and the accountant were the only ones in on this scheme. Maybe there will be more arrests later? Quote
