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Madoff 'victims' do math, realize they profited |
2009-01-09 |
Geez, what's a greedhead to do? NEW YORK -- The many Bernard Madoff investors who withdrew money from their accounts over the years are now wrestling with an ethical and legal quandary. What they thought were profits was likely money stolen from other clients in what prosecutors are calling the largest Ponzi scheme in history. Now, they are confronting the possibility they may have to pay some of it back. The issue came to the forefront this week as about 8,000 former Madoff clients began to receive letters inviting them to apply for up to $500,000 in aid from the Securities Investor Protection Corp. |
Posted by:tu3031 |
#5 so presumably the IRS will be right on your door stop to refund the taxes that you paid on your "profits" once they're "repossessed"? |
Posted by: Dopey Angolurong8988 2009-01-09 15:20 |
#4 The problem is: Which records are real and which are made up? I'll bet Madoff was lying to everyone including the IRS. |
Posted by: Frozen Al 2009-01-09 11:28 |
#3 Whether you answer or not, wouldn't there be copius records of what you put in and took out over the years? Rhetorical Question, the answer is yes. Records on everything. |
Posted by: bigjim-ky 2009-01-09 10:51 |
#2 Simple case of receiving stolen goods. Prepare to return the "profits" if you had a net gain before Madoff was arrested. |
Posted by: Darrell 2009-01-09 09:21 |
#1 Yet, who represents us when we are losers of the Federal Ponzi Schemes? |
Posted by: newc 2009-01-09 00:37 |