One gone.. a couple dozen to go

Found dead, in his own pool. Man who got around 7$bn from his mate Bernie Madoff.

http://www.nzherald.co.nz/world/news/article.cfm?c_id=2&objectid=10605537

Kudos to the black-ops who did this to think of making it look like he was out for a midnight swim.

yeh for a swimming pool in a $33m mansion it sure smells fishy.
This guy did invest in Madoff but benefitted from it as he got his money out.

What did he know?

why is madoff the scapegoat for all the finanacial worlds ills

surely he's a poster boy for the bullshit, the lies and the greed that continues

great depression thousands of bankers and their ilk went to gaol

these days they get extra bonus's from tax payers money

we really need a revolution

I think he's more a poster boy for ill-gotten gains. This is why when people like him lose their lot it is almost to the betterment of mankind.

Much like that Rod Petricevic guy - no-one is getting their money back so the next best thing really is the entertainment value in seeing him lose everything, cry pity me in court, have his Porche taken from him etc.

I see him and others as a nice diversion from the real issue

our financial world is fucked cause them that run it are fucked

but lets not change things as greed is a virtue

the only virtue capitalism trusts

bob_d there is a difference between speculative money ventures that take risk for the possibility of reward, and what madoff did.

He simply took peoples money and put it in a bank account and then published fictitious results purporting to be someone achieving above average results. this gained him a massive following and somehow he kept up this facade for decades by using fresh investors money to satisfy those who requested some of their original money back.

Fraud in a word , from someone who was deeply enmeshed in the New York financial scene.

While a lot of money has been lost by people where investments became worth less than they used to be , most of it wasnt outright fraud as per Madoff.

The fact that his daughter married someone in the SEC around the time of an investigation also stinks - there must have been more people who knew Bernie was a fake , I reckon he decided to take the rap so the others can go free.

Apparently his office had so much coke going round they called it 'The North Pole'

Madoff thought he had SEC fooled

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10606770

Madoff said in the interview that the SEC examiners "never asked" for basic records to corroborate his operations.

Madoff said the SEC never asked him about his tiny accounting firm. It seemed incongruous that, with more than US$65 billion in private investments he claimed he oversaw for thousands of people, Madoff used what seemed to be a small-time auditor with a minuscule office in suburban New City, N.Y.




Its stunning isnt it... it shows just how much can be achieved through pure confidence.

the Madoff accountant claims ignorance !!!!

absolutely stunning but seemingly backed up by the fact he had his own money tied up in the Ponzi.

still the bottom line is he's either fraudulent or negligent so he should go down bad

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10607195

Madoff number cruncher denies Ponzi knowledge

now its the IT guys


The computer programmers, Jerome O'Hara, of Malverne, New York, and George Perez, of East Brunswick, New Jersey, were arrested at dawn on Friday at their homes on charges including conspiracy and falsifying records.

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10609612

Hopefully they got some good hush money along the way coz its all over now.
wonder how much the accountant is hoping to get his sentence reduced by spilling ....