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Madoff agrees to partial civil judgement in SEC case.

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posted on Feb, 9 2009 @ 05:01 PM
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Madoff agrees to partial civil judgement in SEC case.


www.reuters.com

NEW YORK (Reuters) - Accused Wall Street swindler Bernard Madoff has agreed to a proposed partial judgment in a civil case brought by the U.S. Securities and Exchange Commission without admitting or denying fraud charges, the regulator said on Monday.

The SEC said the agreement with Madoff extends an asset freeze on the former Nasdaq stock exchange chairman, with the amount of penalties and disgorgement to be decided later.
(visit the link for the full news article)




posted on Feb, 9 2009 @ 05:01 PM
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I get the impression that Mr. Madoff knows a great deal that could prove embarrasing, if not downright disastrous to both current and former adminstrations.
I wouldn't mind betting that this is also linked to any federal case against him and this deal / plea bargian will see the issue quietly go away while we are distracted by another Britney Spears episode or some other media feeding frenzy for the masses.

At the very least, the SEC is running scared and there must be a few people in high places sweating about what Madoff could reveal if prosecutors don't play ball and offer the required plea in the federal case too.

I'm sure this has already been discussed and Mr. Madoff, as well as his lawyers, already know the outcome.

www.reuters.com
(visit the link for the full news article)



posted on Feb, 9 2009 @ 05:31 PM
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reply to post by Britguy
 


Excellent, well said!

Truth is, this is already over. It usually is by the time the media starts the show.

The SEC leadership is guilty of something. Therefore, in the interests of national security via national economy, the truth will be classified and a cover story will be published. I hope someone reads this post in 50 years! That's about how long the secret will remain intact, sort of like 9-11 (which some have contended is related to this.)



posted on Feb, 9 2009 @ 06:01 PM
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I doubt if this is going to quietly dissipate in the winds. This is too big for it to be forgotten. Bernie will probably detail who was involved, how he ensured that the SEC wouldn't bother him etc. He'll detail which criminal groups were involved as well. If they were investing, there's a money trail that might be used to bring them to justice. If they were part of the operation, Bernie's got leverage.

Also, remember, the feds weren't investigating Bernie, he dropped this in their lap so they are playing catch up. They have no clue what was going on. The trustee announced, last week, that they won't be filing 1099's reporting income as they don't know what was there.

They need Bernie to work with them to sort all this out.

Of course, there's still the criminal case which they won't be settling so fast.



posted on Feb, 9 2009 @ 06:48 PM
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Wow I was under the impression from the News I got that he was getting a slap on the wrist criminally...where am I going wrong here. If he is getting slapped on the wrist criminally what does this say about the power of this guy? What does he know? Who in government was involved? Why did the SEC lady resign is it linked to Madoff? This guy will get off I know it. I will say this if he gets off criminally Obamas admin needs to go down in flames just like Bush. Obama instead of prosecuting these fools are letting them off and even letting them in his admin. Change? What change? This disgusts me and if Madoff does get off criminally I hope he gets street justice...



posted on Feb, 9 2009 @ 06:53 PM
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well golly if I get arrested for the biggest fraud corruption scheme in the history of the world I'll stay in my apartment until I hear an offer I can live with


l ,I know I'll make them pay me!
I tell law enforcement and treasury investigators to pay me a lot of money if they want this thing to go away



posted on Feb, 9 2009 @ 07:24 PM
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reply to post by tjeffersonsghost
 


he's not being slapped on the wrist. he's made a deal that will put a permanent freeze on his assets, force him to return investors money and allow the feds to focus on the criminal investigation which will, invariably, lead them to other criminals as well as, hopefully, the dolts who sat idly by, lining their pockets whilst this all went down.



posted on Feb, 10 2009 @ 06:06 AM
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reply to post by Crakeur
 


I really get the feeling old Bernie knows far too much and the level of corruption goes far too high for this to ever become public knowledge in court.
Either he'll die an untimely death from natural causes, no doubt brought on by remorse and the strain of a court case, or this will simply go away.
If people in high places were turning a blind eye or blocking investigation for several years then it's likely they were profiting personally, or people / groups they were protecting were beneficiaries of big payouts. That then raises the question of who these people / groups were?
There has been speculation before about some of the beneficiaries of Bernie's Ponzi scheme being Pro-Israel PACS. If that were the case then it's highly likely a lot of the money channeled to them would have been fed back to US congress members as "campaign" funds. Just think of the stink that would cause if it got out.


Whatever the outcome, I don't see Bernie or many (if any) of his enablers and co-conspirators doing any hard time. I'm sure they all have nice retirement funds hidden away where it can't be touched and a bolt hole to run to.



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