Madoff to jail

Can't find any sources yet - But per the tube Madoff is being remanded into custody


Heres a list of the charges...

Will update

www.google.com...


AP story.... (update)

www.google.com...

edited for update-


[edit on 12-3-2009 by mental modulator]

reply to post by mental modulator


Heres a new update...


www.bloomberg.com...

Madoff pleads guilty on all counts -

[edit on 12-3-2009 by mental modulator]

reply to post by mental modulator


well I am glad we still live in a country where a Billionaire (former?)
can still be prosecuted like a normal folk.

Thanks for posting this...
Harry Markopolis accused the SEC of being an accomplice!
Cant wait to see what happens here...I am sure I will be dissapointed!

The real story? Read about it here!
Do You Feel Lucky? Go Ahead...Make My Day!

Was kind of hoping he would start ratting out all the people that helped him get away with this monstrous fraud. Isn't that what scum like him do? Cut a deal to save their own skin? There's not a snowballs chance in hell that he was able to pull this off without some sort of help.

Doesn't look like it though. He apparently is going to let himselft be the fall guy. If he did turn state's evidence, I'm sure he would probably implicate some pretty rich and powerful people!

Too bad.



[edit on 12-3-2009 by kommunist]

Originally posted by burntheships
Thanks for posting this...
Harry Markopolis accused the SEC of being an accomplice!
Cant wait to see what happens here...I am sure I will be dissapointed!

The real story? Read about it here!
Do You Feel Lucky? Go Ahead...Make My Day!

I feel rather certain the SEC was an accomplice.

Disappointed??? I what way?

thanks

I just read about this story in my local paper, yesterdays news. He is getting 150 years, yes 150 years....he took money from holhocaust survivors as well! SO the paper prined. Sick. HE had people with no technical skills to take/collect the money. However, a judge is actually hlodding his trial still for 7 months.

reply to post by mental modulator


I'm also happy that this piece of junk is prosecuted, but really bro- he wasn't prosecuted like any "regular" people are prosecuted, not at all. He stole 50 billion and was able to hang out in a 7 million dokkar penthouse while he hid and shifted assets waiting for today.

I doubt that you or I would have been afforded that luxury.

Still, jail is way too good for this guy.

I will be dissapointed to watch all those that colluded with Madoff to skate.
No chance that the head of the SEC will see papers. No Chance!
The fraud is too deep, too wide!

Do You Feel Lucky? Go Ahead...Make My Day!






[edit on 12-3-2009 by burntheships]

Originally posted by uaocteaou
reply to post by mental modulator

 

I'm also happy that this piece of junk is prosecuted, but really bro- he wasn't prosecuted like any "regular" people are prosecuted, not at all. He stole 50 billion and was able to hang out in a 7 million dokkar penthouse while he hid and shifted assets waiting for today.

I doubt that you or I would have been afforded that luxury.

Still, jail is way too good for this guy.

YA true... However a least (hopefully) he is not going to get a time served sentence or
two months at disneyland.

I think capital punishment should be on the table myself, but...

Originally posted by burntheships
I will dissapointed to watch all those that colluded with Madoff to skate.
No chance that the head of the SEC will see papers. No Chance!
The fraud is too deep, too wide!

Do You Feel Lucky? Go Ahead...Make My Day!

I see - I agree...

We will never fix the problems until we take a good long, hard look at the corruption.

Disappointment is righton.

Thanks for the link

He'll probably walk in the front door, have a "heart attack" and die, then walk out the back door.

Peace

[edit on 12-3-2009 by Dr Love]

Originally posted by Dr Love
He'll probably walk in the front door, have a "heart attack" and die, then walk out the back door.

Peace

[edit on 12-3-2009 by Dr Love]

WERD!

Dr Love! Ya beat me to it. I was thinkin about Ken Lay. How he died....how tragic it was.............

Remanded to jail for now.

This was just the plea and I believe the actual sentencing is June 16.


Jail is good, he's got enough money stashed that he could get out of the country.


One interesting thing was seeing on TV where Madoff was walking free on the street prior to the electronic bracelet and stay home bit was when somebody shoved him and Madoff was totally surprised somone would do that.


Jail or prison, I hope he ends up in the general population.
He may as well lay awake and worry, plenty of the people he robbed are doing that now.

What are the ATS rules about friendly bets? Can we start a pool for choosing the day he has that "heart attack" Maybe the winner gets points or something?

MODS: this is all in fun. If any of you feel it's inappropriate, please delete this post immediately. THANKS!!

Originally posted by Dr Love
He'll probably walk in the front door, have a "heart attack" and die, then walk out the back door.

Peace

[edit on 12-3-2009 by Dr Love]

wouldn't surprise me.... i think he is the "lone" fall guy for some of his buddies at some of the more "fanatical organization's he is connected with" the names are out there if you look for them...one bank in particular seems dirty... i.e Isreal Discount Bank....perhaps he transfered some of the money there (and not so all jews will get there money back-and gentiles will be up the creek or other right wing anti-jewish paranoia) but so that perhaps some of his big shot Zionist heavy weights are thrown a bone.

Madoff's a self-confessed crook, and is doing time. Just a handful of charges against him would have put him in jail for the rest of his life. He cut the inevitable deal before the story even made the news.

First was to distance his family, 2 sons, brother, wife, from collusion, taking the fall as a lone gun nut Ponzi scheme conniver.

The real amount that has gone up in smoke, if you are realistic about vapour earning that never existed, is somewhere between 15 and 20 Billion.

Still a lot of chump change. Small consolation, if Bernie had played totally straight and invested in blue chips, his losses would have been not far from that.

Bernie was a lousy analyst but had as clean a profile as one could create, head of NASDAQ, etc. Some entry point has to exist for drug money laundering into Wall Street. Tens of billions in drug profits have to enter and exit the system without detection. And real cash is always welcome to help fuel an the Stock Market perpetual motion engine.

Similarly, the political machine, New York State and the Democratic Party expect funding and/or kickbacks beyond the allowed limits of contributions.

Bernie was the ideal funnel. He kept no real records of anything, a sort of tip off that he was operating a giant communal slush fund.

The actual story will only come out when and if some really good investigation is done and mountains of paperwork are gone over. But it runs so deep into the heart of American political-economic
abuse of trust it will never be fully exposed.

Madoff's conviction will take the immediate heat off the people in the background and his family.

It will be years and he will be long gone by the time the public finds out about his real role as a dispensable underling, set to fall if things got ugly. Not time for preparing a cover story it looks like. Things got uglier and faster than anyone expected.


Mike F

Madoff had a mentor and that mentor is our government. Did you ever wonder why he pleaded guilty to the charges against him instead of going to trial. Most think it is Madoff protecting his family by pleading guilty but my thought process is much deeper then that and my question is how many politicians is Madoff protecting that were in the loop and how high up the ladder does this fraud go into our government? Usually where there is large sums of money there are politicians in the mix of things.

To move that amount of money $50,000,000,000 that we are aware of brings up the question how many palms had to be greased. The SEC had been made aware of his illegal transactions several years ago and we must ask the question why aren't others that were envolved with the Madoff monies being investigated and heads rolling elsewhere including the overseeing agencies?


[edit on 13-3-2009 by amari]