posted on Jan, 5 2009 @ 02:11 PM
So, there's a guy being interviewed in the congressional hearings on the SEC's failure to respond to the myriad of red flags and warnings regarding
Madoff and he said the most astounding thing.
He is a former ponzi running scammer who is, currently, serving time for his crime. He was running thru the basics of the ponzi scam and he said
"you start out with the best intentions, you bring money in and pay it out to the investors but then you have more redemptions than new investors,
the bills pile up, the mafia wants their cut and .."
what? Who wants their cut?
There's an accounting firm that stopped acting as an accounting firm based on the earnings from their clients investments with Madoff. This firm,
had been sending Bernie clients for years and in the mid 80's they ceased accounting operations. The name of the firm?
Avellino & Bienes
These guys were busted years ago for a variety of things and the investors they were dealing with got their money back as they had done nothing wrong.
There are plenty of stories of how these guys were still operating as feeders in London but let's just say that it is probably a safe assumption
that they were still involved.
But anyway, back to Avellino & Bienes. Well, not Bienes. Just Avellino. As was mentioned earlier, I'm looking into connections between Madoff and
the mafia. So, the name Avellino should be investigated.
There's Salvatore Avellino, Luchese family member who works out of Long Island, New York.
Is it possible Bernie's pal Frank J is related to Sal "the golfer" Avellino?