Saturday, June 27, 2009

Why does Madoff still have any money or assests?

He shouldn't be left with ANYTHING:
Bernard Madoff, the disgraced Wall Street financier, has been ordered to forfeit over $170bn, prosecuters said.

Denny Chin, the US district judge assigned to Madoff's case, entered a preliminary order of forfeiture in New York on Friday.

The order forces Madoff to forfeit all of interests to assets, including a $7m apartment in Manhattan, an $11m house in Palm Beach, Florida and a $3m home located in New York's borough of Long Island.

The government also settled claims against Ruth Madoff, the financier's wife, who must also forfeit her interests totalling $80m in property which she had claimed was hers, prosecutors said.

Madoff, 71, a former non-executive chairman of the Nasdaq stock exchange, pleaded guilty in March to charges that his secretive investment advisory operation was a multibillion-dollar scam - the largest in US history.

Madoff could spend the rest of his life in prison when he is sentenced on Monday.


Ali said...

completely off topic,

a 4 1/2 minute piece of half blood prince. ;)

ellroon said...


ellroon said...

Damn you! It's in German!

Off to the official website... I can hardly wait!

Ali said...

Harry Potter unt der halb something or other. Sorry! There is another one in english with japanese subtitles, I think. :)

Anyway, it's the pretty pictures you want.

ellroon said...

I found the youtube treasure trove of Harry Potter and the Half Blood Prince trailers....