Biggest crook in history? Madoff ordered to forfeit 170 billion
NEW YORK, NY – Did he do it or not? I dunno, but if you are ordered by a U.S. District court judge to forfeit 170 billion dollars in real estate, investments, cars, and boats, then it looks bad for you player. That’s got to be a record.
Sentencing is close for Madoff who organized a ‘Ponzi’ scheme which left a lot of people out of some cheese.
“We don’t care about what happens to Madoff,” said Laurance Cohen, 79, of Eldorado, N.M., .
“We just want to get our money back.”
Some people think this is all according to Madoff’s plan and he probably has tons of $$$$ stashed in off shore accounts that his family will receive over time.
I’m concerned about a man who thinks it’s wise to rip people off. Not just that but to continue doing it well past the amount you need. Madoff took the pyramid scam to a whole new level. Did he think he would not get caught? Why the he throw in the towel after 10 billion or so? Amazing.
The 170 billion Madoff has been forced to forfeit represents only the money he can be connected to by fraud. The total amount lost or stolen is not included in that figure.
Madoff is expected to be sentenced Monday.
Source: swapitout 520spot.com/msnbc
Links:
http://www.msnbc.msn.com/id/31564752/ns/business-us_business/
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Tags: 170 billion, Bernard Madoff, bing.com, crook, Madoff, msnbc.com, ponzi, U.S. district court
The SEC needs to pick up some of the repayment back to the people who were trick bagged by this swindler!
June 27, 2009 at 7:28 pm.