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Madoff, Banking Bailout and the Mob?

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posted on Jan, 8 2009 @ 11:55 AM
They are talking about his ties to the Russian mob on CNBS. So you may have been on to something but it sounds like you were tying him more to the Italian mob more so than the Russian mob...

posted on Jan, 8 2009 @ 12:12 PM
reply to post by tjeffersonsghost

you're referring to this:

I doubt if Madoff was directly involved with the russian mob, other than has been reported - investors in that bank. Truth is, I really don't know if the mafia is involved with madoff in any capacity. I still think they will be found in the mix somehow. Not sure if they were investors, a part of the scam etc but the things I've heard, read and put up here sure do seem to make that leap a bit easier to take.

posted on Jan, 8 2009 @ 06:25 PM
This article is interesting in that it refers to those who profited or were net gainers. It speaks about how some including pension funds withdrew more money than they initially invested and if since they still had money invested with madoff at the time of the collapse if they should try and claim that.

From the sounds of it clawbacks are going to garner some lawyers lots of money and turn out to be like a bitter divorce.

In relation to this thread though I wonder if one is to look at some of the early investors they would find mob ties? That to me would make sense since its the early investors in a ponzi scheme that make out the best, so could see if the mob was behind it that way.

posted on Jan, 8 2009 @ 11:02 PM
reply to post by Desolate Cancer

there's quite a bit of that going around. Most of the folks I hear about who lost millions, really lost much less but they did pay taxes on income they never actually had so, in theory, they've created basis. If the IRS says the loss doesn't include the phantom income, then the IRS will have to let them refile their returns beyond the 3 year statute. In other words, the IRS won't allow that and the fight is going to focus on "why give back money that is, according to the IRS, rightfully mine?"

posted on Jan, 9 2009 @ 03:18 PM
Since, purportedly, alot of the Madoff scheme money lost was illegally 'earned' and being laundered, how do we get our bureaurats to not 'help' these criminals out who got taken by Madoff? We have one crook who lost money for other crooks, so they take OUR money and pay back the crooks? Something is amiss...

Did BofItaly, uh, America... have anything to do with this? As BofA is very historically tied in with the Mafia?

posted on Jan, 9 2009 @ 05:00 PM
reply to post by Gregarious

You are right about it being ridiculous if they paid back laundered money. But what are you talking about with BofA having a long history with the mob, dont doubt that it does just never heard of this before.

posted on Jan, 23 2009 @ 12:02 PM
Though I would add this link about an update on Madoff, they say that monitoring equipment will be installed, lets hope it captures a moment of candor.

yahoo video link

Then their is this link that discusses how the authorities have to go in the oppisate direction to find the details than normal (since madoff was the one to confess as opposed to a lower level whistle blower employee). This really makes it seem like Madoff is protecting many others.

wsj link on upside down probe

[edit on 23-1-2009 by Desolate Cancer]

posted on Jan, 26 2009 @ 09:59 PM
Here is another video from cnbc discussing about who was involved in the Madoff scam and also funnily enough (for us outsiders not the victims) that the IRS will have a field day at seeing who was claiming what on taxes and the the truth actually is.

Leave it to the IRS to pour salt on a wound those parasites (sorry for diatribe).

posted on Jan, 28 2009 @ 04:18 AM
I thought I was familiar with the Patrick Byrne/ story, after-all, I own a couple stock issues that for the past 2yrs have spent more time on the Reg SHO list, than off...shorted to I've researched, believe me.

But this...posted @ Deep Capture yesterday

Strange Occurrences, and a Story about Naked Short Selling

January 27th, 2009 by Mark Mitchell

Evidence suggests that Bernard Madoff, the “prominent” Wall Street operator and former chairman of the NASDAQ stock market, had ties to the Russian Mafia, Moscow-based oligarchs, and the Genovese organized crime family.

And, as reported by Deep Capture and Reuters, Madoff did not just orchestrate a $50 billion Ponzi scheme. He was also the principal architect of SEC rules that made it easier for “naked” short sellers to manufacture phantom stock and destroy public companies – a factor in the near total collapse of the American financial system.

I don’t know why, but this seems like a good time to tell you a little about my personal history. Along the way, I’ll mention a murder, two suicides (or “suicides”), a punch in the face, a generous bribe, three Armani suits in bar, and a “prominent” billionaire who might know something about a death threat and a Russian matryoshka doll

Still doesn't have your attention?

Ok, another snip or two:

As if all of this were not enough, one day in the fall of 2006, U.S. Senator Orrin Hatch invited Patrick to his home. As soon as Patrick entered the lobby of the apartment building, the Senator pulled him aside and said that he had credible information that Patrick’s life was in danger.

“You are up against some really nasty, vicious people,” the Senator said, “They will not hesitate to kill you.”

But that was only half the story. There is much more.

For example, you do not yet know the name of the famous billionaire who might be able to tell us more about Felix, his matryoshka doll, the Russian Mafia, and the Genovese organized crime family.

Mark Mitchell is a reporter for He has previously held writing and editing positions with the Wall Street Journal editorial page, Time Magazine in Asia, the Far Eastern Economic Review, and the Columbia Journalism Review.


Stay tuned

Jim Willie mentioned in an interview last week...he has received info that the Madoff scandal leads directly to the US Department of the Treasury.

My skin is beginning to crawl

posted on Jan, 30 2009 @ 09:42 AM
reply to post by OBE1

insane article, thanks for posting it. I'm looking forward to reading the whole thing.

Today, there's news that JP Morgan Chase might have pulled money out of funds invested with Madoff, just prior to his arrest.

JPMorgan Chase & Co suddenly began pulling its money out of two hedge funds that invested with Madoff last fall before Madoff was arrested, but did not tell investors

Is it possible they knew, in advance, that the jig was up? How would they know? Wait, that's right, Frank DiPascali's wife worked at JP Morgan Chase.

If you recall, I mentioned that she worked in the loan department and she was part of a group that wrote some rather sketchy loans. Perhaps this was her way of apologizing?

Perhaps she got the funds in with Madoff in the first place and, fearing her second on the job screw up would be her last, she told them to pull the money before it was too late.

The article goes on to talk about the scope of bank involvement here.

Lawyers working on the Madoff matter said they are finding new evidence daily that big banks provided borrowed money to hedge funds that in turn put their clients' money with Madoff.

That's rather frightening, no? Rather than crappy mortgage backed securities, we've got Madoff backed securities. At some point, someone is going to start using "the word of a gentleman" as collateral.

the article:

posted on Jan, 30 2009 @ 09:49 AM

your link contains a link to more madoff info.

Charles Gasparino (citing “speculation” from investigators) reported last week on CNBC that the Russian Mafia might have been partners in Madoff’s larcenous fund business. Or perhaps the Mob had an even greater interest in Madoff’s market making operation, as some of our sources have told us in recent weeks.

this might be a stretch. If the russian mafia was involved with the ponzi side of things, they were probably only investors with Bernie. This would explain the missing banker who was responsible for all those Russian oligarchs' and their investments.

The link the author makes between the naked short sellers and the mob/madoff/boesky etc is a different beast. I'm only first delving into all of this but it sure as hell makes for a good read.

posted on Feb, 4 2009 @ 09:39 AM
Whistle blower feared for safety of his FAMILY when his calls to SEC about Madoff being a scam were ignored.

Now we are getting somewhere, this gentleman markopolos was at a competitor firm but started to fear for the safety of his family. Madoff is not the type of guy who would scare someone about their family, so who that was involved with Madoff would make him afraid?

If you ask me we will find out that the SEC had people working for them that were heavily mobbed up and they were instrumental in keeping Madoff clear.

If that is the case can you imagine the fallout from something like that.

posted on Feb, 4 2009 @ 09:54 AM
reply to post by Desolate Cancer

this all leads back to my original claim of mafia involvement. of course, now, it seems, there might be russian mafia money involved.

posted on Feb, 4 2009 @ 10:13 AM
I have thought this whole business fishy from the very start.

Why is no one executing the very basic and first step to recovering from a con? Everyone knows that you” Follow the money".

You can't tell me that he actually spent 50 billion dollars and if he did then it should be easier to find.

Why is the government’s involvement so weak; cursory at best?

You say Mafia and you might be right but if it is the Mafia then I think you need to look closer to Pennsylvania Avenue for the location of the Godfather.

posted on Feb, 4 2009 @ 10:19 AM
reply to post by NightSkyeB4Dawn

I've heard rumors of all sorts and someone posted here, I think, that there was mention of a link to the Treasury Secretary or something.

Truth is, we won't know until the trial, if there is one.

My information is gleaned from the news, which stinks, and my clients who got swindled. They have lawyers and other high powered friends trying to gather information. So, it's all, basically, my piecing together what I hear and read so it should all be taken with a massive grain of salt.

That said, I have heard that Bernie wasn't talking, wasn't being of much help and then, when he tried to talk, they told him it was too late to try and plea bargain with his information. Not sure if this is true or not.

posted on Feb, 4 2009 @ 02:00 PM

Originally posted by Desolate Cancer

Whistle blower feared for safety of his FAMILY when his calls to SEC about Madoff being a scam were ignored.

Now we are getting somewhere, this gentleman markopolos was at a competitor firm but started to fear for the safety of his family. Madoff is not the type of guy who would scare someone about their family, so who that was involved with Madoff would make him afraid?

If you ask me we will find out that the SEC had people working for them that were heavily mobbed up and they were instrumental in keeping Madoff clear.

If that is the case can you imagine the fallout from something like that.

if you listen to the whistle blower who testifeid today .....he says the SEC was the little Biatttchhh and was staffed by incompetent shills who looked the other way when there master (wall street big wigs) went greed wild and some (like madoff) lost all morals. infact he says that are still like this and that the Shapiro women OBAMA tapped as cabinet member was the head of another regulatory agency that markopolis (whistle blower) identified as "extremely corrupt" we are getting somewhere

soon we may be WILLING to connect the dots

the SEC (regulatory body) is intimidated, impotent, and held hostage by Wall street (Big finance)

the FDA (regulatory body) is intimidated , impotent, and held hostage by BIG Pharma out for CODEX alimenterious .......another SCAM born out of $$ greedy intention for big pharma to steal market share from Nutrition stores and consumers who don't want to be drugged by FORCE/LAW

[edit on 4-2-2009 by cpdaman]

posted on Feb, 5 2009 @ 05:46 PM

Madoff moved the money to isreal?


looks like he has tried to protect clients from Russia, France, And the Usa by moving some of his $$ to isreal banks little while bag......gee no mention of this on the msm

WMR previously reported that Madoff is suspected of transferring much of his ill-gotten gain to Israeli banks, including one, Bank Leumi, that Madoff associate J. Ezra Merkin bought from the Israeli government when Ariel Sharon was prime minister and current Prime Minister Ehud Olmert was finance minister.

i think something smells very fishy that this guy all of a sudden decides to turn himself in and say one day " you know what....... i have been running this huge ponzi scam" bring me to justice.

he's going to a country club jail and will get out well before whatever time he is given by a judge.......perhaps he admitted fraud to prevent a process of discovery..... i dunnno ....why would banks invest in a guy without taking a look at his books and realizing it was a fraud? Do his investors get re-imbursed by the gov't since he pleaded guilty to fraud

posted on Feb, 5 2009 @ 06:23 PM
are you guys saying that madeoffs ponzi scheme and perhaps other such schemes (not yet exposed) are the reason for americas money troubles?

posted on Feb, 5 2009 @ 10:18 PM
I don't think I've seen it posted here but came across a document with a list of victims of Madoff on it.

Madoff Victim list

I havn't had time to really peruse it yet but wanted to let you guys know it was out there, if the Madoff case interests you.

posted on Feb, 6 2009 @ 08:13 AM
reply to post by ll__raine__ll

contributing factor. these banks lost money, lots of it, when they invested with him. There's also an issue of people using their madoff accounts as collateral on loans. Construction loans here in NYC are, apparently, now being reviewed as a result of the madoff collateral. Folks bought homes listing their madoff accounts as assets and revenue streams. The asset and the revenue stream no longer exists, the loan, once thought to be good loan, is now, possibly, sub-prime or a high risk loan, devaluing the asset on the banks' books.

Madoff's scam will send shock waves around the world. The SEC has been shown to be a total waste of space. Madoff could not have acted alone. It is impossible. Five seconds of glancing at that list should indicate just how big an operation this was. Each client received a statement that listed pages of transactions. Madoff, at one point, reported on one investor's statement, in one month, more options being written for one company than the entire market wrote that month. That's a lot of transactions and he was showing pages of transactions each month. He's going to be bringing down a whole lot of people and the little bit of faith we still have in our government, our economy and our markets could, very likely, crumble.

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