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03-10-2009, 01:18 PM
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#1
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Janell
is feeling a little
jedi
Senior Member
Join Date: Aug 2004
Location: AZ
Posts: 651
xBucks: 6,305
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So Madoff's going to court
I cannot believe this guy has been under house arrest for months. I keep hearing these stories of the victims from his scam they are losing their houses their entire lives ruined. I hope they let the victims be a part of the trial.
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03-10-2009, 01:22 PM
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#2
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Cyndalie
is not it.
Marketing Director / SEO
Join Date: Aug 2002
Location: Philadelphia
Posts: 2,334
xBucks: 74,139
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Refresh me on this scumbag. I get them all confused.
__________________
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Cyndee - Director of Marketing & SEO
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03-10-2009, 02:48 PM
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#3
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Evil Chris
is drinking Heineken
Clone of myself
Join Date: Aug 2002
Location: Montreal
Posts: 12,984
xBucks: 388,501
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I'm not up on this story either...
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03-12-2009, 10:13 AM
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#4
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Magnus3x
is superfantastico!
Senior Member
Join Date: Oct 2002
Location: Ontariarioooooooooooo
Posts: 1,418
xBucks: 18,689
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In a nutshell he will go down as the biggest scammer in history.
Madoff ran a investment firm in NYC, he had some of the most wealthiest clients from around the world mostly in the US, movie stars (kevin bacon lost more than 1/2 his savings), business tycoons and charitable organizations. He never did any trading, in business for over 10 years his statements always showed positive returns which is impossible if you actually do trades.
He basically took investors money and stole it.. lived a big a lavish life as anyone could, several mansions, Manhattan penthouse, mansion in Palm Beach, private jet.. all stolen money from his investors.
He ran this with his 2 sons who claim to have known nothing, and his wife claims the Manhattan Penthouse is hers with her own money and a reported 64 Million in savings is also her legitimately.
This scum bag was allowed to be free pending trial, during this time he was caught trying to filter money and assets like art and jewels to family members to hide from the FBI. Today he will plead guilty and probably face 150 years in prison, I hope they make him listen to a weeks worth of impact statements, as he has ruined many elderly peoples lives and lifesaving's are gone forever.
__________________
Magnus
I SALE Traffic!- Iphone/Mobile Traffic
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03-12-2009, 10:37 AM
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#5
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Evil Chris
is drinking Heineken
Clone of myself
Join Date: Aug 2002
Location: Montreal
Posts: 12,984
xBucks: 388,501
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Oh yes I did hear about this in part. Yeah, it's hard to believe how long he got away with this. He's going away for a long time.
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03-12-2009, 12:21 PM
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#6
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Rochard
should edit this
Funbrunette's BITCH!!!
Join Date: Dec 2002
Location: Eating Cherries
Posts: 2,064
xBucks: 52,822
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While what he did was wrong..... If I was him I would have moved to some third world country, shaved my head, changed my looks, and disappeared.
__________________
ROCHARD IS OMNIPRESENT
Director of Products & Services | YNOT
Skype rochardbuss
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03-12-2009, 12:25 PM
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#7
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Janell
is feeling a little
jedi
Senior Member
Join Date: Aug 2004
Location: AZ
Posts: 651
xBucks: 6,305
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He plead guilty no plea and had his bail revoked. Sentencing should be in June. His wife is sitting on a cozy 70 million. I wonder how long it will take for civil suits to start. The number of victims seems to keep growing.
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