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Thread: Madoff brother to admit guilt in multibillion-dollar fraud

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    Madoff brother to admit guilt in multibillion-dollar fraud

    Oh looky here another one of our rich crooks.


    The brother of Ponzi scheme king Bernard Madoff will plead guilty on Friday to conspiracy and falsifying records, admitting his role in the multibillion-dollar fraud that destroyed the savings of thousands of investors, prosecutors told a judge on Wednesday.

    Peter Madoff, the former chief compliance officer at the private investment arm of Bernard Madoff's business, has agreed to serve a decade in prison, they said.
    Peter Madoff also agreed to the criminal forfeiture of $143 billion, including all of his real estate and personal property. The $143 billion, representing the amount of money believed to have flowed through the business accounts when he was part of the multi-decade Ponzi scheme, is included in a criminal forfeiture agreement, though authorities know that his assets would never approach that figure.


    Madoff brother to admit guilt in multibillion-dollar fraud

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    Re: Madoff brother to admit guilt in multibillion-dollar fraud

    I think it about time that we incarcerate folks, for their first 24 hours or so, with a rope and a solid hook-eye in the right place, capable of supporting a few hundered pounds, in every cell.

    The money we would save. And the misery we would minimize for all.

    I suspect that a few would not agree with my highly economic, but somewhat blunt, suggestion.

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    Re: Madoff brother to admit guilt in multibillion-dollar fraud

    Quote Originally Posted by lpast View Post
    Oh looky here another one of our rich crooks.


    The brother of Ponzi scheme king Bernard Madoff will plead guilty on Friday to conspiracy and falsifying records, admitting his role in the multibillion-dollar fraud that destroyed the savings of thousands of investors, prosecutors told a judge on Wednesday.

    Peter Madoff, the former chief compliance officer at the private investment arm of Bernard Madoff's business, has agreed to serve a decade in prison, they said.
    Peter Madoff also agreed to the criminal forfeiture of $143 billion, including all of his real estate and personal property. The $143 billion, representing the amount of money believed to have flowed through the business accounts when he was part of the multi-decade Ponzi scheme, is included in a criminal forfeiture agreement, though authorities know that his assets would never approach that figure.


    Madoff brother to admit guilt in multibillion-dollar fraud
    His mistake was stealing from other white collars. He should've stole from the blue collar so it would've been just a fine.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

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    Re: Madoff brother to admit guilt in multibillion-dollar fraud

    Quote Originally Posted by poweRob View Post
    His mistake was stealing from other white collars. He should've stole from the blue collar so it would've been just a fine.
    He wouldve been cheered for that...lol

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    Re: Madoff brother to admit guilt in multibillion-dollar fraud

    how much of his personal assets were siphoned off by family members into their own names before he reached this agreement?
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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