Guitly as Charged
- Thread starter Chris A.
- Start date
I can't even believe that guilty plea. This wasn't some sophisticated scam. The dude literally took people's money, put it in a bank, and then paid out funds when requested. Pure. ****ing. Insanity. The fact that this could go on with billions of dollars and nobody from the banking industry, the S.E.C, or the government noticed is insane.
Some plumber can get behind $35k on his taxes and the government will be up his ass until he can't breathe, but nobody noticed this ponzi scheme for years. Ay yay yay. And the amount of intelligent people that just tossed money to this guy without proof of where it went or a critical eye on the returns. Ugh. Stunning. Just stunning.
It's obvious the bastard doesn't give a shit because despite his sorrowful regret, he's done nothing but prove he's the ultimate narcissistic and selfish bastard by trying to salvage what he can for those around him. Dick.
Some plumber can get behind $35k on his taxes and the government will be up his ass until he can't breathe, but nobody noticed this ponzi scheme for years. Ay yay yay. And the amount of intelligent people that just tossed money to this guy without proof of where it went or a critical eye on the returns. Ugh. Stunning. Just stunning.
It's obvious the bastard doesn't give a shit because despite his sorrowful regret, he's done nothing but prove he's the ultimate narcissistic and selfish bastard by trying to salvage what he can for those around him. Dick.
B O N Y
MODERATOR & FGT OWNER
Empty Pockets
ex-GT Owner
"...but nobody noticed this ponzi scheme for years."
Actually there was one guy who harped and harassed the SEC for years trying to get them to investigate this scumbag. 'Can't remember his name right now, but he headed - or was a big wig in - another investment firm. He RIGHTLY couldn't figure out how Madoff could be making the percentages he was making year after year in a LIGIT way. He flat out told the SEC Madoff HAD TO BE running a ponzi scheme.
As a result, the SEC, according to Fox News, pretty much just asked ol' Bernie if he was doin' things in a ligit fashion...he of course said "yup"...and that's as far as it went - until recently.:frown:frown:frown
(Harry Markopolos was the guy's name)
Actually there was one guy who harped and harassed the SEC for years trying to get them to investigate this scumbag. 'Can't remember his name right now, but he headed - or was a big wig in - another investment firm. He RIGHTLY couldn't figure out how Madoff could be making the percentages he was making year after year in a LIGIT way. He flat out told the SEC Madoff HAD TO BE running a ponzi scheme.
As a result, the SEC, according to Fox News, pretty much just asked ol' Bernie if he was doin' things in a ligit fashion...he of course said "yup"...and that's as far as it went - until recently.:frown:frown:frown
(Harry Markopolos was the guy's name)
Last edited:
RV King
GT Owner
Now if they could put all the people in jail who really have pulled off the world's biggest ponzi scheme ever. THE SOCIAL SECURITY SYSTEM!!!!
:slap
:slap
Blue Moose
GT
Chris A -
now your guitar-playing monkey has a song :lol
cracked me up watching the monkey while listening to the music!
now your guitar-playing monkey has a song :lol
cracked me up watching the monkey while listening to the music!
Empty Pockets
ex-GT Owner
Looks like 'wifey won't skate on this either...
NEW YORK – Bernard Madoff's wife could theoretically claim more than $100 million in assets — and should forfeit it all, according to federal prosecutors.
The move by prosecutors seeks the court's help in recovering $22 million in Madoff properties, all of which are solely in Ruth Madoff's name except for one $3 million property. It also seeks $62 million in cash and securities in her name, $10 million in furnishings in the properties and $10 million for a yacht and other boats.
Madoff, 70, traded his $7 million Manhattan penthouse for a federal lockup on Thursday, immediately after he described how he created a two-decade Ponzi scheme which paid off early investors with proceeds from new investors.
Investors have reacted angrily to previous defense claims that Ruth Madoff is entitled to keep $69 million in assets that are in her name.
Authorities say Madoff notified his 4,800 investors in November that they had nearly $65 billion in assets when there actually was about $1 billion left. He could face up to 150 years in prison when he is sentenced in June.
The assets that the government hopes to seize include four properties, $10 million in home furnishings and a $7 million yacht in France. The court document did not mention $2.6 million in jewelry, but the government did say it would seek forfeiture of "all insured and readily salable personal property" in any of the Madoff properties.
Prosecutors also are seeking the forfeiture of a $39,000 Steinway piano and a $65,000 silverware set kept in the Manhattan penthouse.
Peter Chavkin, a lawyer for Mrs. Madoff, declined to comment.
Now...what about his sons? I'm jus' sayin'...
NEW YORK – Bernard Madoff's wife could theoretically claim more than $100 million in assets — and should forfeit it all, according to federal prosecutors.
The move by prosecutors seeks the court's help in recovering $22 million in Madoff properties, all of which are solely in Ruth Madoff's name except for one $3 million property. It also seeks $62 million in cash and securities in her name, $10 million in furnishings in the properties and $10 million for a yacht and other boats.
Madoff, 70, traded his $7 million Manhattan penthouse for a federal lockup on Thursday, immediately after he described how he created a two-decade Ponzi scheme which paid off early investors with proceeds from new investors.
Investors have reacted angrily to previous defense claims that Ruth Madoff is entitled to keep $69 million in assets that are in her name.
Authorities say Madoff notified his 4,800 investors in November that they had nearly $65 billion in assets when there actually was about $1 billion left. He could face up to 150 years in prison when he is sentenced in June.
The assets that the government hopes to seize include four properties, $10 million in home furnishings and a $7 million yacht in France. The court document did not mention $2.6 million in jewelry, but the government did say it would seek forfeiture of "all insured and readily salable personal property" in any of the Madoff properties.
Prosecutors also are seeking the forfeiture of a $39,000 Steinway piano and a $65,000 silverware set kept in the Manhattan penthouse.
Peter Chavkin, a lawyer for Mrs. Madoff, declined to comment.
Now...what about his sons? I'm jus' sayin'...
B O N Y
MODERATOR & FGT OWNER
I AM SURE BERNIE REALLY WAS GOING TO INVEST THE REMAINING FUNDS AND PAY EVERYONE BACK IN FULL.
Excuse me, have to run off and buy another case of Makers Mark, just ran out
Excuse me, have to run off and buy another case of Makers Mark, just ran out
Empty Pockets
ex-GT Owner
thrashdu2002
Well-known member
I was watching MSNBC about this case. The lawyer on there said that people could techincally only get $5,000 back a piece. He said that's the max amount for what Madoff did to them. I don't understand that but maybe you can share some info.
Tanner
Tanner