Feds Suspect Wide Circle of Co-Conspirators in Madoff Case
I'm glad to hear this investigation is widening, because you just don't steal that much money without someone else knowing about it:
Two days before Bernard Madoff enters an 11-count guilty plea in Manhattan federal court, the investigation into his giant Ponzi scheme has broadened to include a number of suspected co-conspirators, according to federal officials involved in the case. Madoff’s lawyer told a judge today that there was no “deal” connected to Madoff’s confessing to money laundering, mail fraud, and other counts that will likely result in a life sentence.
Ruth Madoff, who was considered “innocent at first,” is believed to have received at least $70 million from her husband and is now therefore an object of the investigation.
That tallies with the revelation, from another source involved in the probe, that Madoff has not been cooperating in good faith with investigators. “He is not reliable. He’s jerking everyone around,” said the source. “Every day he changes his tune about where the money went and where it is. He’s trying to protect his family.”
A source close to the Madoff defense team agreed that Madoff’s main concern was to preserve as much assets as possible for his wife and children and to keep them from legal entanglements. “The US attorney’s office is still trying to resolve what is tainted or clean money, what real property in the US is appropriate for the Madofffs to keep,” the source said.
That may prove difficult. Sources say new information has surfaced that suggests several members of Madoff’s inner circle transferred assets to their wives, transactions thought to be laundered through an English bank.
Ruth Madoff, who was considered “innocent at first,” according to this source, is believed to have received at least $70 million from her husband and is now therefore an object of the investigation. That is one reason why she recently decided to retain her own lawyer, leaving Ira Sorkin, who has represented both of the Madoffs since December, when the Ponzi scheme was revealed.
Investigators are focusing their attention on three groups of possible co-conspirators. “There should be at least 20 indictments, between the three groups, if the feds are doing their jobs,” said one highly placed lawyer involved in the case. “Some will be conspiracy, the ones who were deep into it with Madoff, and others will be civil cases sent to the SEC for prosecution.”
(Lawyers and prosecutors who spoke to The Daily Beast for this article declined to go on the record, citing their legal involvement in the case.)
He won;t have to serve any time, just turn state's evidence and he might even be able to keep all the money he stole! If he can hide from Rove long enough to survive going to the trials that is. What happened to Rove's IT guy again?
geee...there's a shock.
When the Fed's started negotiating with this shyster, I knew where this was going.
Where I come from...if the shyster takes the money...you start out by breaking his legs. If the money doesn't appear by that time...then you make him disappear...if it still doesn't appear...then you simply send him back home...over a period of time...piece by piece.
"Anyone that makes less than $150K in this country, has no business voting Republican."
:-)
I fully expect a closed casket funeral.
He'll be drinking margaritas with Ken Lay in no time.
BTW, where is Mrs. Lay these days?
That is very similar to what my husband said last night.
Say what you mean. Mean what you say. But don't say it mean.
Just to be clear, my husband didn't ask where is Mrs lay these days. :)
Say what you mean. Mean what you say. But don't say it mean.
This guy is a major flight risk.
I hope they've sealed his passport and his wife's.
He should be under arrest and in shackles right now and probably his wife should be too.
Just like Charles Keating. Remember? One day he was in a suit and tie and the next he was in an orange jump suit in shackles/handcuffs being led from a van into court.
This man and possibly his wife are ECONOMIC TERRORISTS.
"The US has an army of 90,000 soldiers in Afghanistan and is spending $100bn a year, but has still been unable to defeat 20,000-25,000 Taliban who receive no pay at all." - Patrick Cockburn
all jews have closed casket services
..spending most of his Weekends with Bernie!!??
"Egotism is the anesthetic that dulls the pain of Stupidity" - Frank Leahy
Unless she invested with Madoff, Mrs. Kenneth Lay is spending her husband's estate of $43.5 million.
Put his sorry ass in one of those tent cities for the rest of his life. Strip him of everything he has except a tent and maybe a blanket. Let him experience life the way many Americans are dealing with it these days. Make him find his own food, build his own fire and struggle. I don't think he deserves the conveniences of prison.
Say what you mean. Mean what you say. But don't say it mean.
Big Black Tyrone and Crazy Chico Montoya will suit Mr. Madoff just fine. He'll be Mrs. Wankoff in no time...
If you leave Madoff in a tent city, I swear he will find a way to steal from the people who don't have anymore to lose, and he will manage to run a racket there somehow. Those people have suffered enough.
BTW, where the f*ck is the Red Cross, shouldn't they be taking care of those poor tent cities? Or did Mrs. Dole use all the humanitarian budget for yet another social event of the year?
in his penthouse in Manhattan wearing an ankle bracelet.
Ha!!!
I was always suspicious about "Kenny Boy". No one saw that he was dead.
I hate to sound tin hatish, but I thought his sudden death and quick funeral were highly suspicious.
He probably is sipping a tall one on the beach with his wife in Grand Cayman or some place.
That would be a fun story for The Enquirer to discover.
"The US has an army of 90,000 soldiers in Afghanistan and is spending $100bn a year, but has still been unable to defeat 20,000-25,000 Taliban who receive no pay at all." - Patrick Cockburn
Is he really dead?
Who knows? George W. Bush.
Lay may be dead as he could have been considered a "risk" to others. Hmmm
And by giving his heirs Lay's $43.5 million estate, silence could have been
bought.
Ken's "heart attack" while on a skiing vacation before beginning
his prison sentence was sure nice for several folks. Hmmmm
to aipac land. I don't want to appear anti-anything, but everyone has a mafia, even if they are trained by the mossad.
________________
common sense matters as much as truth
how many trees HAS he planted in Israel?
Just askin'.
"Anyone that makes less than $150K in this country, has no business voting Republican."
... that a bunch of guys who 'attacked' America and DID NOT budge the stock market more than a couple of thousand points are held in Guantanamo without being charged and without the niceties of American law ...
... but we're propping up Madoff and other financial crooks who have done far worse to the economy and the day-to-day functioning of America?
power!
that's why.
________________
common sense matters as much as truth
The SEC just HAD to be in on this...I truly believe that there was corruption and co-operation at EVERY LEVEL...can't wait to see the Hollywood movie on this whole thing!
I watched a hearing and I believe it was Rep. Alan Grayson who was grilling the group of them and their lawyers.
Some of his questions were really making them squirm, wiggle, give "funny looks of concern" to the lawyers etc.
Sometimes the body language answers the question better than their lying mouths.
"The US has an army of 90,000 soldiers in Afghanistan and is spending $100bn a year, but has still been unable to defeat 20,000-25,000 Taliban who receive no pay at all." - Patrick Cockburn
either way it would have to be a mini-series. Lancelot Link could play Bush.
boosh ain't cool enough.
http://www.youtube.com/watch?v=Eh6sSExynS4
Diabolus est Deus Inversus
They could "dumb down" Lancelot Link enough to be credible as bush?
just like the rest of the fed agencies, IRS, FBI, NSA(looking for americans to rendition). all efforts to detect or contain white-collar crime were defunded and all resources dedicated to white-collar crime detection and enforcement were re-dedicated to terrrrrrrrrrrism.
________________
common sense matters as much as truth
"Deep Capture" was referenced in the Cramer story a couple days ago, but I think every person in the country needs to read it right now. Madoff's name comes up a lot, as he was deeply involved with many of the hedgers doing the naked short-selling that destroyed thousands of American companies for profit, with the complicit assistance of so many of our fine financial "journalists".
If even a tenth of it is true, these greedy fucks have been perpetrating the biggest crime ever committed in this solar system.
DUH!
TPTB do NOT want this case going public. They do NOT want investigations, because very powerful people will be implicated and we can't have that, now can we?
I agree 100%, wheyghey!
.
... And his wife had no clue... no clue... what so ever?
Yea, right... ppfftt!!!
.
Starve the WAR Beast...
... Feed Americans.
in Nashville had money invested with Madoff as did a retired friend of mine who got caught in the scam through a former girlfriend who knows Madoff. My friend lost about a third of his retirement savings.
It may sound extreme but I believe those scammed and those
horrified that this crook, who was allowed to do so much damage to
others, should be given the Death Penalty.
Protesters should be lining up outside of his penthouse and the
NYC Courthouse proclaiming they want to see Justice!
DEATH PENALTY JUSTICE signs and chants might get some attention.
Do it now or let the Madoff Heirs live in luxury.
This POS will trick out everyone involved to avoid life in prison. He's already made a deal, don't be surprised if this guy walks.
...he lives long enough to utter the first co-conspirators name.
Generally speaking I don't trust anyone making over 150K a year.
..and his family! He should get every one of the 150 years they are talking about whether it's realistic or not. His family, should not get a dime of any ill-gotten gains AND if they still have any money, they should be made to fork it over!
Mickey: "It was an epiphany. Do you know what an epipany is?"
Keoni: "NOT NOW MICKEY!"
I think that they should let all 8,000 of his victims get a shot at him!! However long it took! They should all get to have their say to him and humiliate him (if that's even possible, he's so inhuman at this point).
Madoff either sings or has a heart attack.
I bet he says he'll sing and then has a heart attack. Case closed.
... the money is gone.
Can't wait until they trot out the excuse that the checks to family members were allowable under the tax code as an annual gift (which is correct as far as the letter of the law goes, not as an endorsement of criminal malfeasance).
means no need for further investigation.
Just google "Gerald Posner."
Maybe Cramer was in on it?? Or Kudlow? The CNBC staff? Stranger things have happened.
...that the governmnet seized his assets from the get-go, otherwise, like others have said, that money is gone. the government always manages to screw these kinds of things up. whether its Madoff/Made-Off, Rove or a long list of others, SOMEONE NEEDS TO START GOING TO JAIL.
makes many friends.
________________
common sense matters as much as truth
“The US attorney’s office is still trying to resolve what is tainted or clean money, what real property in the US is appropriate for the Madofffs to keep,” the source said.
So...Bernie Maddoff steal approximately $50 billion and the govt. does overtime seeing how much of his wealth he gets to keep.
Had they found him with a couple of kilos of cocaine or couple pounds of weed, they would have seived it all.
What a crazy country we live in.
Stick all their asses in the pokey!
Bernie, wife, and kids, all belong in jail.
Any aunts, uncles, cousins, or other family members should also have to show they never recieved even a single dime from Bernie, and if they did, they belong in jail too.
.
"Parachutes are allowed in checked or carry-on baggage, but may not be worn in flight."
---Southwest Airlines
Well at least the feds are looking into this family. Remember Enron? Ken Lay and his wife took the hundreds of millions he made, hid it offshore, and then claimed they were broke, and the feds never went after any of it.
How many involved in this scheme were ripped off, and probably related to some crime family or group, that will be putting out hits on those that organized it.
I see some whackings on the schedule
cocaine, pot, etc still get through into this country despite our so-called "war on drugs". I've always felt that the occasional televised bust is simply to justify the continued public fleecing of a few billion tax dollars yearly. Could it be that the bigger bucks (such as these) are really used to bring the massive quantities in? Just throwin' it out there...
OK, my tinfoil hat is on...
"Parachutes are allowed in checked or carry-on baggage, but may not be worn in flight."
---Southwest Airlines
The guy needs to be kept alive for as long as possible so that they can get as much information out of him as possible.
"IT'S ALL ONE BIG LIE"
And he wasn't just referring to himself.
but a confidence game, the mother of all freaking BUBBLES.
Game over
Scarborough's participation in this interview is an embarassment. He starts by saying he hasn't done his homework (that is, read the article). Then, he starts pontificating and gets basic facts wrong. For example, he starts talking about the 60 Minutes piece on the Madoff competitor reporting Madoff to the SEC, and presents the competitior as an SEC staffer.
Scarborough attempt to overcome his incompetence and lack of preparation with bombast. Sad that he is given the platform by msnbc, and the team of suck-ups that surround him do nothing to make up for his mistakes.
Remember when Z-big called Scarborough's grasp of the facts "infantile" and "embarrassing"?
... are about the same as the chances of Osama bin Laden having acted alone.
EVERY SINGLE ONE OF WHOM WAS IN ON IT.
Fuckking DUUUUUUUUHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!
...the Feds put him in some nice, high-security prison....so those Jewish Mothers from Palm Beach don't find him and beat him to death with a Menorah!
"Egotism is the anesthetic that dulls the pain of Stupidity" - Frank Leahy
It's about time some media attention focused on not just Madoff but also on those that were somehow connected to this huge Ponzi scheme. Obviously, as the long-ignored muckrakers pointed out, thieves like Fairfield-Greenwich were just as knowledgeable on the ordeal--or at least, knew quite a lot. I certainly hope these types of investigations will continue as Bernie is convicted this week.
Didn't the tax people try to find out what Americans have accounts with UBS in Switzerland and UBS flipped em off? There are some 19,000 American accounts there. Then there are the offshore accounts in the Cayman Islands and Luxemburg.
Maybe we can start off by investigating Israel.
If it is true that a deal has been approved whereby this crook will not
have to detail WHERE he put all of this stolen money, we are looking
at another Kenneth Lay, GW Bush's best friend's, deal.
It took 41/2 years for the government to convict Ken Lay, yet he
died from a "heart attack" while on a skiing vacation, before ever
serving a day of his sentence. Those in power take "care" of their own.......
A judge then allowed Ken Lay's heirs keep his $43.5 million dollar
estate which shut down any restitution for those suffering from Lay's crimes.
Protesters should be lining up in front of NYC's Courthouse and Madoff's
Penthouse demanding JUSTICE...........
THE DEATH PENALTY!
Why not? Speak up now or forever let the Madoff Family sail off
into the sunset with stolen money.
Can ya hear jack abramoff right now sayin about bernie madoff...damm what a worthless douchbag he is
Maybe Lay is really in the elite protection program with a new identity.
Lay's money was never taken from his family. So if Lay is still around he could enjoy it..
The unexpected death of convicted Enron founder Kenneth Lay end up saving his family tens of millions of dollars in government fines. Lay's massive heart attack should keep prosecutors from seizing the $43.5 million in assets they had demanded.
How come Ken Lay's estate gets to keep that money?
None
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