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Wow, that Mr. Madoff sure is a big shot. Maybe we could work for him after we pretend to regulate him Wow, I bet those regulators were doing a heck of a job of regulating. Yet of the same regulators, rather than being fired or disciplined, were sent back even after it was apparent [...] Some suspect that others at the firm or other Madoff family members could be implicated by DiPascali. But far more explosive would be evidence pointing to the complicity of outside investment managers, such as Ezra Merkin and Walter Noel. It seems likely that the feds are cutting a plea deal with DiPascali to go [...] Barron’s exclusive. A book excerpt from Too Good To Be True, by Barron’s reporter Erin Arvedlund, who warned about Madoff in 2001. Some highlights [Madoff's London office] “was where the Madoffs washed their investors’ money and then spent it on expensive furnishings, yachts, automobiles, and other luxuries.” Bear Stearns had an unwritten rule. All [...] One of Madoff’s early Wall Street mentors, who supplied him with over-the-counter business, reputedly had close ties to the Chicago mob — “the genesis of Bernie’s career,” adds a source. Apparently the MSU method of accounting isn’t always the best of ideas after all Madoff’s accountant, David Friehling, will probably plead guilty to various charges of Making Sh*t Up due to his fantasy audits of Madoff’s businesses. Prosecutors aren’t saying that he knew about the Ponzi scheme, but rather that he did virtually nothing [...] From the May/June issue of Fraud Magazine, the magazine for the Association of Certified Fraud Examiners, comes this interview with Harry Markopolos, who spotted in 1999 that Madoff was running a Ponzi scheme. What events led you to investigate Madoff’s business? In late 1999, I was a portfolio manager for a multibillion-dollar equity derivatives [...] As in, “that thieving weasel Madoff’ed me, he swindled me out of my money.” It could be a noun too. “Be careful of him, he’s a Madoff.” Hey, it happened to “Ponzi,” so why not “Madoff.” So now all of a sudden Ruth Madoff is saying how “devastated” she is by what Bernie did, now that he got 150 years. Neither of their apologies seemed even remotely sincere to me but precisely what sociopaths pretending to have compassion would say. The big unanswered question that remains is, where did all [...] She has agreed to give up a claim to $80 million in assets while her husband Bernie loses all assets and gets sentenced on Monday. However, the SEC and the Madoff trustee can still go after Ruth Madoff for money, as can anyone who wants to sue her. Their penthouse will be sold, she’ll have [...] They claim to be shocked, just shocked, and say they haven’t spoken to their parents since their father confessed to them. Maybe. Or maybe it’s just part of the con. But they do appear to be shell-shocked. Andrew [Madoff] recently “lamented” to an African-American friend, “I’m unemployed, I don’t have any money, and I’m [...] |  | ||||
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