Buster
Well-known member
Ah well..He'll be 220 years old when he gets out..Color him and the Billion$ gone..but the people he refused to reveal he was working with, are enjoying the spoils of his hard work now...
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$50 billion ponzie
- Thread starter James48843
- Start date
:laugh: :nuts:
budnipper1
Active member
Tough task ahead to find Madoff money, co-schemers
NEW YORK – With Bernard Madoff behind bars, investigators have their work cut out for them identifying who else may have been involved in his nearly $65 billion scam.
Among other things, prosecutors must determine what role, if any, Madoff's wife, brother, two sons and employees played in perhaps the largest Ponzi scheme in history.
"A lot of resources and effort are being expended, both to find assets and to find anyone else who may be responsible for this fraud," federal prosecutor Marc Litt said at a hearing Thursday where Madoff pleaded guilty to 11 felony counts and was ordered to jail immediately.
Authorities also will have to reconcile Madoff's statement to the judge that "to the best of my recollection, my fraud began in the early 1990s." Prosecutors have alleged that the swindle began in the 1980s.
Even though he admitted that his investment advisory business was crooked, Madoff insisted to U.S. District Judge Denny Chin that the other businesses his firm engaged in — those run by his brother and two sons — "were legitimate, profitable and successful in all respects."
After Madoff's statement, Assistant U.S. Attorney Marc Litt told Chin the government "does not entirely agree" with Madoff's description of the crime and went on to say, "At times, his firm would have been unable to operate but for the cash generated from this Ponzi scheme."
Madoff's wife, Ruth; brother, Peter; and sons, Mark and Andrew; have not been accused of any wrongdoing. But unhappy investors who lost their fortunes with Madoff believe others were involved.
George Nierenberg, who was one of three investors who spoke at the hearing, told the judge he believed that Madoff "didn't commit these crimes alone."
"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," he said. "And we all know that Madoff wasn't around a lot at his operation."
Still, investors welcomed the swift turn in fortune for the 70-year-old money manager, who in one fell swoop went from living in a $7 million penthouse in midtown Manhattan to a tiny jail cell with cinderblock walls and linoleum floors.
...continued - http://news.yahoo.com/s/ap/20090313/ap_on_bi_ge/madoff_scandal
His thousands of victims included individuals, trusts, pension funds, hedge funds and nonprofit organizations. The scheme wiped out people's fortunes, ruined charities and foundations, and apparently pushed at least two investors to commit suicide.
Investors big and small were swindled, from Florida retirees to celebrities such as Steven Spielberg, actor Kevin Bacon and Hall of Fame pitcher Sandy Koufax. Many of Madoff's victims were Jews and Jewish charities, which trusted him because he is Jewish. Those cheated included Nobel Peace Prize winner and Holocaust survivor Elie Wiesel.
NEW YORK – With Bernard Madoff behind bars, investigators have their work cut out for them identifying who else may have been involved in his nearly $65 billion scam.
Among other things, prosecutors must determine what role, if any, Madoff's wife, brother, two sons and employees played in perhaps the largest Ponzi scheme in history.
"A lot of resources and effort are being expended, both to find assets and to find anyone else who may be responsible for this fraud," federal prosecutor Marc Litt said at a hearing Thursday where Madoff pleaded guilty to 11 felony counts and was ordered to jail immediately.
Authorities also will have to reconcile Madoff's statement to the judge that "to the best of my recollection, my fraud began in the early 1990s." Prosecutors have alleged that the swindle began in the 1980s.
Even though he admitted that his investment advisory business was crooked, Madoff insisted to U.S. District Judge Denny Chin that the other businesses his firm engaged in — those run by his brother and two sons — "were legitimate, profitable and successful in all respects."
After Madoff's statement, Assistant U.S. Attorney Marc Litt told Chin the government "does not entirely agree" with Madoff's description of the crime and went on to say, "At times, his firm would have been unable to operate but for the cash generated from this Ponzi scheme."
Madoff's wife, Ruth; brother, Peter; and sons, Mark and Andrew; have not been accused of any wrongdoing. But unhappy investors who lost their fortunes with Madoff believe others were involved.
George Nierenberg, who was one of three investors who spoke at the hearing, told the judge he believed that Madoff "didn't commit these crimes alone."
"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," he said. "And we all know that Madoff wasn't around a lot at his operation."
Still, investors welcomed the swift turn in fortune for the 70-year-old money manager, who in one fell swoop went from living in a $7 million penthouse in midtown Manhattan to a tiny jail cell with cinderblock walls and linoleum floors.
...continued - http://news.yahoo.com/s/ap/20090313/ap_on_bi_ge/madoff_scandal
His thousands of victims included individuals, trusts, pension funds, hedge funds and nonprofit organizations. The scheme wiped out people's fortunes, ruined charities and foundations, and apparently pushed at least two investors to commit suicide.
Investors big and small were swindled, from Florida retirees to celebrities such as Steven Spielberg, actor Kevin Bacon and Hall of Fame pitcher Sandy Koufax. Many of Madoff's victims were Jews and Jewish charities, which trusted him because he is Jewish. Those cheated included Nobel Peace Prize winner and Holocaust survivor Elie Wiesel.
Steadygain
TSP Elite
I bet it's well over $50 Billion and this is way under the real figure.
I would utilize everything available - tap into his brain and be able to show him that I know when he's lying and if he's holding anything back.
Then I would start the process of knocking out all the pathways of resistence - so that his brain would be totally rewired in a manner that would openly reveal every secret imaginable.
He would be powerless to resist - in fact he would openly want to tell me everything because I'd be stimulating the pathways that lead to this and blocking those that don't.
There would have to be a lot of Bank officials involved - no way that could be avoided.
Have to spread among many others - extended family and lots of friends - and that is the whole purpose for pleading guilty.
I would get every person involved and repeat the same process until every single link was fully accounted for and every penny retrived. But that's me and I would have no problems doing it. Then restore their normal brain so they could see how 'their information' resulted in all their deepest relationships and connections going down the drain.
Human Rights groups would have no impact on me - if anything I would prove 'Human Rights' is my highest purpose.
I would utilize everything available - tap into his brain and be able to show him that I know when he's lying and if he's holding anything back.
Then I would start the process of knocking out all the pathways of resistence - so that his brain would be totally rewired in a manner that would openly reveal every secret imaginable.
He would be powerless to resist - in fact he would openly want to tell me everything because I'd be stimulating the pathways that lead to this and blocking those that don't.
There would have to be a lot of Bank officials involved - no way that could be avoided.
Have to spread among many others - extended family and lots of friends - and that is the whole purpose for pleading guilty.
I would get every person involved and repeat the same process until every single link was fully accounted for and every penny retrived. But that's me and I would have no problems doing it. Then restore their normal brain so they could see how 'their information' resulted in all their deepest relationships and connections going down the drain.
Human Rights groups would have no impact on me - if anything I would prove 'Human Rights' is my highest purpose.
The media has switched the figure to $65 Billion recently, it may go higher
then that my friend.
Madoff Lists $826 Million in Assets, Give or Take
Prosecutors said they may seek more than $170 billion in forfeiture, including money and property traceable to the alleged fraud, though much of that figure represents funds deposited by investors into Mr. Madoff's fraudulent investment operation and later dispersed to other investors. About $1 billion in assets has been recovered so far by the court-appointed trustee liquidating his firm. The document didn't address whether the assets listed by Mr. Madoff made up the bulk of what had been recovered.......
http://online.wsj.com/article/SB123698084865824301.html
Prosecutors said they may seek more than $170 billion in forfeiture, including money and property traceable to the alleged fraud, though much of that figure represents funds deposited by investors into Mr. Madoff's fraudulent investment operation and later dispersed to other investors. About $1 billion in assets has been recovered so far by the court-appointed trustee liquidating his firm. The document didn't address whether the assets listed by Mr. Madoff made up the bulk of what had been recovered.......
http://online.wsj.com/article/SB123698084865824301.html
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