And the connections get closer.
Who is Robert Jaffe? Robert Jaffe was the Vice Preisdent of Cohmad Securities Corp which was owned by Madoff ('mad") and Sammy Cohen (coh). The
company was, apparently, set up to bring investors into Madoff Securities and their office in NYC was on the same floor as Bernie's. Close quarters
And who, you might ask, is Robert Jaffe and why does it matter?
Well, Jaffe was known as "the man to see" if you wanted to get in with Madoff. Jaffe worked out of Boston and Palm Beach and was a well known
figure amongst the wealthy elite.
I was recently told of how he attended a function at his country club in Florida and how he wound up being confronted by one of the many irate, bilked
investors who wanted to know how he could show his face at the club. As I was told, the men had to be physically restrained.
Here's some info on Jaffe:
Jaffe's involvement didn't just involve the wealthy, elite, he was also involved with Boston mob leader Gennaro Angiulo in the 70's. They followed
Jaffe from E.F. Hutton to Cowen & Co and when they were indicted on racketeering it came to light that Cowen & Co failed to report large deposits into
their brokerage accounts. Cowen and Jaffe were never implicated in the crime but Jaffe did have this to say when he was questioned about it back in
1985 "a brokerage account for the Angiulos had been "initiated," but no money had ever been deposited and no transactions enacted." So, he
claims that his mafia clients opened accounts but never funded them. Then, two weeks later, it was reported that an unidentified representative from
Cowen & Co. acknowledged the company had in fact received money from the Angiulos, who maintained nine accounts with the firm.
Was Jaffe clueless as to what his clients were doing with the accounts he managed? Was he covering up for the mob? Probably the latter. His loyalty
was probably rewarded, his reputation as someone you can trust probably grew and he might very well still hve been involved as their investment
adviser. Why would the "family" leave him?
Now, as we all know, the SEC and the Feds are estimating thousands of investors were screwed by Madoff and anyone who was robbed by this petty thief
would want to cause him physical harm but how many would go so far as to actually send him a threatening warning of imminent death? Everyone, at one
time or another, has wished harm on someone who has wronged them. Many of us have said "I'm going to ...kill you" but it takes a rare breed to
contact someone who has been arrested and is being watched by the feds, who's every move is being monitored, who's every call is being tapped and
make a death threat. It takes a special someone, with a background in death to make threats so ominous that they include the man who walked off with
their money as well as family members. One source close to the investigation has said "Bernie has been told that if he doesn't cough up every dime
he has hidden in offshore accounts, someone in his family will be killed." Now, if you or I were bilked, we'd want to exact revenge for sure. If
we were the violent type, we'd want to lash out at Bernie, get 5 minutes alone with him and hurt him. But threaten to off a family member? Who does
that? Well, I can name one group of people that have been known to kill someone else in an effort to get their primary target to do what they want.
So, now, Bernie is out on bail, even though he couldn't get one person to vouch for him as part of he bail agreement. Shortly after he was released,
given a lovely new ankle bracelet and told to be home before curfew, the judge changed the conditions of his bail. He is now under house arrest.
There can be only one reason for this. Protection. They want him safe and sound. Why? Perhaps he has already offered up some connected friends who
were involved in the scam. Perhaps the folks who threatened to harm his family members are afraid that Bernie will sing in an effort to keep his
family from going to prison with him. The type of threat mentioned above doesn't come from an angry investor. It comes from a serious criminal
experienced in harming people. Someone who knows you don't kill the man with your money, you kill his wife in an effort to force the man to comply
with your demands.
Bernie's threats and house arrest: