Archived material Access restricted Article

Today's Front Page   View All of Mon 02/09/2009 View Sun 02/08/2009 View Sat 02/07/2009 View Fri 02/06/2009 View Thu 02/05/2009 View Wed 02/04/2009 View Tue 02/03/2009
2009-02-09 -Lurid Crime Tales-
SEC And Madoff Reach Agreement On Fraud Case
Archived material is restricted to Rantburg regulars and members. If you need access email with your nick to be added to the members list. There is no charge to join Rantburg as a member.
Posted by GolfBravoUSMC 2009-02-09 15:29|| E-Mail|| Front Page|| [6498 views ]  Top

#1 I'd like to see the details, but this is probably as good a civil recovery as anyone's ever going to get.

Criminal punishment is another matter.
Posted by Mike 2009-02-09 15:49||   2009-02-09 15:49|| Front Page Top

#2 So he's got fifty billion in pocket change laying around? Color me impressed...
Posted by tu3031 2009-02-09 16:20||   2009-02-09 16:20|| Front Page Top

#3 listen, don't do it again! now get out of here!
Posted by Waldemar Whomolet5053 2009-02-09 16:32||   2009-02-09 16:32|| Front Page Top

#4 He pre-bought the judge, SEC people, IMHO.
Posted by Alaska Paul 2009-02-09 16:43||   2009-02-09 16:43|| Front Page Top

#5 The SEC says the basic facts of the complaint are that Madoff committed a $50 billion fraud and told his sons his investment business was a sham. Madoff told them he had "absolutely nothing," that "it's all just one big lie," and was "basically, a giant Ponzi scheme," according to the complaint.

Maybe it's just me, but wouldn't that make the "restitution" part of the deal a bit difficult? But, then again, I'm not one of them financial geniuses at the SEC...
Posted by tu3031 2009-02-09 16:47||   2009-02-09 16:47|| Front Page Top

#6 The SEC is covering its own tracks that a public trial would show gross incompetence at best and implied collusion at worst. It's just another serious indication how compromised the SEC people have become in regulating the individuals and organizations in the 'business'.
Posted by Procopius2k 2009-02-09 17:20||   2009-02-09 17:20|| Front Page Top

#7 No problem, just give $50 billion of TARP 2 to Madoff so he can make restitution. I'm just surprised Obama hasn't picked Madoff as head of the Social Security Administration.
Posted by DMFD 2009-02-09 18:09||   2009-02-09 18:09|| Front Page Top

#8 the agreement only covers the civil case

criminal charges are still pending
Posted by mhw 2009-02-09 19:12||   2009-02-09 19:12|| Front Page Top

#9 Skin the bastard alive (he may've cost me a grant).
Posted by g(r)omgoru 2009-02-09 22:01||   2009-02-09 22:01|| Front Page Top

23:56 JosephMendiola
23:53 Grolush Darling of the Hatfields3195
23:51 Verlaine
23:51 JosephMendiola
23:48 Thing From Snowy Mountain
23:46 CrazyFool
23:38 JosephMendiola
23:29 JosephMendiola
23:02 ex-lib
22:54 Ricky bin Ricardo (Abu Babaloo)
22:53 OldSpook
22:48 Ricky bin Ricardo (Abu Babaloo)
22:30 OldSpook
22:26 Alaska Paul
22:04 trailing wife
22:01 g(r)omgoru
21:59 trailing wife
21:59 g(r)omgoru
21:51 trailing wife
21:45 trailing wife
21:39 trailing wife
21:39 g(r)omgoru
21:37 g(r)omgoru
21:19 JosephMendiola

Search WWW Search