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Madoff - Grandest Ponzi's Of All Time - Page 2

Now that sheds some light on things. What would make his sons turn in their own father though considering he confided in them. Must be a misunderstanding between them on the level of trust.

Time Of Ponzis Grandest Madoff

Honestly, I think he asked them to turn him in because if they didnt following him telling them the truth...they become accessories to the crime.

Madoff - Grandest Ponzi's Of All Time History & Civil Business Politics

Madoff to Plead Guilty

Madoff to Plead Guilty to 11 Counts, Faces up to 150 Years Behind Bars [3:53 p.m. ET] Ref. ABC News

Page 2 Time Of Ponzis Grandest Madoff

I kind of wonder why he is pleading. He could fight this thing to the end and probably stay out a year or more. He must really have no money to pay lawyers. Any lawyer representing him has to know that his client is going down and will be broke...totally broke...so unless you're a publicity hound, why bother representing him? The only other thing I can think of is that he might believe if he gives up and goes to jail that they will stop looking for what money is left.

Source 9

Oh, and the best part is that people that got paid money (there were a few that cashed out...complete with false profits) may have to pay it back! So those fantastic double digit returns each year couldnt have happened because he didnt make any trades...so basically, the profits paid out to a few were actually stealing from others!

There is no way the wife is going to get to keep that 62 million. She said it was from her parents that passed away. Unfortunately, the government checked that and it seems that her parents only left her a couple thousand dollars in stock and she gave those to her sister.

Really, if there is money stashed out there, all the government has to do is back off for a while and watch her and her accounts. She has lived in a Manhattan Penthouse for too long. There is no way that she wont go for the cash, if it is there.

Edited: Vincenzo on 11th Mar, 2009 - 12:06am

Time Of Ponzis Grandest Madoff

FNC reported that there was no deal made with the government for him to plead guilty so probably he is trying to put all the intention on himself to save his wife and sons from also going through the meat grinder. Maybe he is just trying to risk that it will work because he has nothing to lose - anymore. He can't hire a good lawyer because he probably stole from all the known ones that are capable of handling his case.

Madoff - Grandest Ponzi's Of All Time

I just read he plead guilty to ALL counts. The reason he did is is because he won't be able to prove his innocence since the law requires him to prove each one of the cases, way too many to be a possibility.

Madoff Grandest Ponzi's Of Time - Page 2

Madoff To Jail

AP: Federal judge says he plans to jail Bernard Madoff immediately after the disgraced financier pleaded guilty to 11 felony fraud counts in massive financial swindle.Ref. USAToday

Madoff Grandest Ponzi's Of Time Politics Business Civil & History - Page 2

At least did not make the government spend even millions more trying to prosecute the bastard for his crimes. Him and Standford need to be put in some kind of public forum where people can go in front of them and tell them how much they lost.