reply to post by Desolate Cancer
I would imagine he'll be held in a very safe environment, like Bernie was, until his sentencing.
Frank's gonna sing. He pleaded to a variety of crimes that Bernie did not. Conspiracy - this means he is admitting that he didn't act alone, this
means that Bernie lied (duh) and Frank is spilling the beans (heh).
Money Laundering - this is a good one. I posted in this thread that I had heard from a source who worked for the trading desk arm of Madoff
Securities, that laundering was a rumor and and drug money was the rumored source. Guess we'll find out.
One of the articles I read mentioned that now we might see if Frank links Ruth, Peter or the Madoff sons to the ponzi and they mentioned that the sons
owned the legitimate trading desk that operated out of the same building. That got me thinking. If I owned a firm that traded securities and my dad
ran one of the most successful investment funds on the planet, I'd be pretty irate if he wasn't trading thru my company. Hell, I would expect that
I'd have made my name by being his desk first. Think about it. You can start a business and your first client is a legend of biblical proportions.
More clients will follow.
I was offered an opportunity to handle licensing issues for a client's series of children's books. NY Times best sellers in the kiddie department.
The licensing is a no brainer - tee shirts, pjs, theatrical show, soundtrack to that show etc. All currently in place, I would just oversee it. She
(the author) gets calls all the time from her publisher, associates etc, all wanting to know who handles her licensing. If it happens, it's an easy
walk to success.
Madoff's sons would have had the same deal and, yet, somehow, dear ole dad never traded a share of his investments with them.
Only if they didn't know he was a scam. Otherwise, it makes sense.
Same thing goes with the cancer charity Madoff claimed as his favorite cause. One of his boys had cancer and Bernie was on the board of this cancer
organization and, oddly, they never invested with Madoff, even though so many other charities did.
Bernie was on the board. He took the cause very seriously. I guess bilking them wouldn't have been right in his mind. Go figure.
Back to Frank. Frank was denied bail, rightfully so. He deserves the same treatment Bernie received. Frank was there from the mid 70's, serving as
Bernie's assistant, his director of options trading and a slew of other made up titles, ending with Chief Financial Officer. All this for a nice kid
from a mafia heavy neighborhood who started working for Bernie at 18. 18 would imply no college. No college and by the early 80's he was Bernie's
right hand man.