Madoffs Seek To Keep Nearly $70 Million

[fallout man]

Originally posted by: Hacp
Why aren't we seizing money from Madoff's brother and sons? Why isn't Madoff in Guantanamo Bay right now being interrogated? Obama is being a rookie here. If he had seriously figured out a way to make sure Madoff and his family were in rags for the rest of their lives, he would have gotten some serious credibility. Instead, Madoff is residing him in million dollar apartment laughing every time he looks at his multibillion dollar swiss account.

...because his name is Bernard Madoff, not Jose Modesta, capiche? Had this guy's bad crack ruined as many peoples' lives, he would be in the river by now.

There was a time period of about a week when shteam would shoot out of my ears every time I read about or saw a picture of this putz. After that week, I settled on the conclusion that he'll never taste justice. This jerk-off (and his assets) being handled with kid-gloves is a pure travesty of justice--especially considering that his shameless scam affected so many charities and philanthropists in an already difficult time. He needs the fire, but instead he's enjoying a fireplace in his $7m NYC penthouse. Fuck this shit.

 

[Lemon law]

Oh cheer up, maybe Madoff will die an innocent man just like Ken Lay, he may be carrying a multiple life sentence, but as long as its on appeal when Saint Peter calls him, in the eyes of the law, he is an innocent man.

 

[RightIsWrong]

Simple question for the Mrs.,

Would you have been able to afford to purchase the apartment or the assets without your husband's illegal actions?

If the answer is no, then it was more than likely the result of funds that were gained illegally and you, like spouses of drug dealers and other common criminals should lose whatever assets were the direct result of the illegal practices.

 

[halik]

Did she make the money by means that exclude defrauding people? No? Well there's your answer.

 

[halik]

Originally posted by: RightIsWrong
Simple question for the Mrs.,

Would you have been able to afford to purchase the apartment or the assets without your husband's illegal actions?

If the answer is no, then it was more than likely the result of funds that were gained illegally and you, like spouses of drug dealers and other common criminals should lose whatever assets were the direct result of the illegal practices.

That; 100% right on

 

[EXman]

Originally posted by: Harvey

Originally posted by: boomerang

Topic Title: Madoffs Seek To Keep Nearly $70 Million

Two words... FUCK THEM! :thumbsdown: :|

AGREED!!!

Every penny from every family member if they are shown to recieve funds from Madoff.

 

[chess9]

Let's let Elie Wiesel decide.

-Robert

 

[mugs]

Originally posted by: jpeyton
$70 million is only what he's asking to keep on the record. Remember that's only 0.15% of $50 billion.

I imagine there are several numbered overseas accounts that have several hundred million in them waiting for Bernie when he gets out of jail.

You understand that he didn't actually steal $50 billion, right? A large portion of that figure was fictitious gains that he reported - it was money that never even existed. Another large portion was money that he paid to investors. That's how a ponzi scheme works - you take money from new investors to pay off older investors. I haven't seen any reports of how much Madoff profited from the scheme, but it wasn't $50 billion.

 

[chess9]

Madoff will spend the rest of his life in jail, if convicted. He's essentially a dead man.

-Robert

 

[boomerang]

Originally posted by: chess9
Madoff will spend the rest of his life in jail, if convicted. He's essentially a dead man.

-Robert

I feel that a conviction is very likely. Timing is everything and even though he's a high-roller, public sentiment will influence the courts to convict him.

The question is will it be prison, or country club prison?

 

[MovingTarget]

He should be stripped of all his assets and only allowed a moderately sized home for him and his family should he be convicted. For the sake of irony, no retirement funds. He'll actually have to work for it, and like many of his victims, would have to start all over again. That is justice.

 

[ayabe]

They need to seize everything he has which will still be short the total amount he swindled from people.

The rest can be paid back by providing him a quality job as Walmart greeter, wage garnishment FTW.

 

[chess9]

Originally posted by: boomerang

Originally posted by: chess9
Madoff will spend the rest of his life in jail, if convicted. He's essentially a dead man.

-Robert

I feel that a conviction is very likely. Timing is everything and even though he's a high-roller, public sentiment will influence the courts to convict him.

The question is will it be prison, or country club prison?

They could send him to any federal prison, but Allenwood is fairly close, and he'd be a minimum security kinda' guy, plus he'd be close to his family. I don't think he'll need his golf clubs, or his Viagra.

-Robert

 

[brandonbull]

They need to freeze all assets and force him to prove that they were paid with money not involved with his scheme. Doesn't the government freeze mafia/drugdealers assets and they have to prove that it was earned legally?