The Big Bad Madoff Ponzi Scheme

[GomiGirl]

Yes but he will be in minimal security with all the other white collar crims. Won't be a ball of laughs but not as if he will be thrust into Max Security with all the gang bangers.

[Greji]

Yes but he will be in minimal security with all the other white collar crims. Won't be a ball of laughs but not as if he will be thrust into Max Security with all the gang bangers.

Be a group easier on his 'roids as well!

[2triky]

Yes but he will be in minimal security with all the other white collar crims. Won't be a ball of laughs but not as if he will be thrust into Max Security with all the gang bangers.

No doubt...but things are relative. For a gang banger who even while free living on the outside is hanging out with murderers in the midst of a constant live of violence prison is probably not a change in his/her frame of reference....ol' Bernie is going from eating at 3 Michelin star restaurants to eating bologna sandwiches and sharing showers. It'll still be a far cry from his house arrest in his multi-million dollar NY penthouse.

[2triky]

[2triky]

[Doctor Stop]

....ol' Bernie is going from eating at 3 Michelin star restaurants to eating bologna sandwiches and sharing showers.

Or washing down Nutraloaf with Pruno.

[Greji]

[2triky]

^ I think we can safely say Mad dog Madoff is going to be in a bit of a pickle...or may be a bit of pickle will be in him...

[leitmotiv]

....I was wondering when we would hear more about Madoff's shadowy helpers.



[INDENT]"Bernie Madoff's longtime finance chief pled guilty in federal court this afternoon to helping his boss carry out a $65 million dollar Ponzi scheme.

The accountant, Frank DiPascali, had been employed at Bernie L. Madoff Investment Securities for more than three decades. He was responsible for managing thousands of accounts and accepted billions of dollars from individuals, charities, pension funds, and other investors. He also helped develop the internal computer system that gave investors the false impression that their money was being invested as promised.

In short, Madoff was head chef, while DiPascali was one of those that actually cooked the books."[/INDENT]

[INDENT]More here: http://blogs.villagevoice.com/runninscared/archives/2009/08/madoffs_cfo_ple.php[/INDENT]

[rooboy]

He actually had hisneice or some relative working there. The SEC was notified by various indivuals with cred thatMadoff was a piece of work defrauding his clients but chose to look the other way.

As a prominent trader said - Nobody was trading with Madoff. People in the game would ask around and nobody was trading with him.

As for the people who put their money with him - sorry, don't have much sympathy for most of the fuckwits. Most of them were wealthy Jews who operated on the old system of it's a fellow Jew so he's the be all and end all. They didn't ask the questions they should have. They made it a sticking togethr thing, didn't do their homework.

As for the big names in Hollywood (producers, actors like Bacon and wifey Kyra Segwick - bit of a hot chick for her age!) - their financial advissors are to blame, ,they are too busy to chase up everything. The wealthy Jews from Palm Beach etc were too busy enjoying being part of some socalled fucking exclusive Madoff club.

[rooboy]

tell me hey? What are you scared of? Maybe it was that c--nt of a fascist african american in the soulofjapan blogspot. Racist coward who delights in Nanjing and other atrocities. If it wasn't, you all on here should have been thanking me for exposing him in a thread some time back.

[nottu]

[pheyton]

Madoff was a bad guy, but fuckin Greenspan, Summers and Rubin are the ones who sent our economy into the shitter.

Frontline: The Warning
http://www.pbs.org/wgbh/pages/frontline/warning/view/#morelink

[gv]<script type="text/javascript" src="http://www.pbs.org/wgbh/pages/frontline/js/pap/embed.js?frol02c331aqc11"></script>[/gv]

[nottu]

[nottu]

[FG Lurker]

Madoff's Coders Charged With Aiding Massive Ponzi Scheme
Wired.com, November 13, 2009

Two programmers who worked for convicted fraudster Bernard Madoff have been arrested and charged with providing technical support for the massive Ponzi scheme that bilked investors out of an estimated $65 billion.

[...]

The two, who began working for Madoff in the early 90s, are accused of writing software in 2003 and 2004 that produced fraudulent records that were fed to U.S. regulators and a European accounting firm reviewing the firms' work. They allegedly repeatedly revised the programs through 2006 to produce reports designed to deceive investigators.

[...]

The two, who began working for Madoff in the early 90s, are accused of writing software in 2003 and 2004 that produced fraudulent records that were fed to U.S. regulators and a European accounting firm reviewing the firms' work. They allegedly repeatedly revised the programs through 2006 to produce reports designed to deceive investigators.

O'Hara withdrew nearly $1 million; Perez withdrew about $289,000.

[...]

Madoff allegedly told DiPascali to pay the programmers "whatever they wanted in order to keep them happy," after which the programmers received a 25 percent salary increase and net bonuses of between $60,000 and $64,000 each, authorities say.

(Full Story)

Looks like the feds are starting to make a bit of progress unraveling things...

[leitmotiv]

[Mulboyne]