Wall Street Journal on MSN
Bernie Madoff, the architect of one of the largest financial frauds in American history, has died at age 82.
Mr. Madoff, one-time chairman of the Nasdaq Stock Market and a fixture on Wall Street for decades, shocked the world in December 2008 when he confessed his investment business was a multibillion-dollar ponzi scheme. He pleaded guilty in March 2009 and was given the longest sentence allowed.
In the decade after his arrest, a court-appointed trustee has returned more than $12 billion to Mr. Madoff’s former clients.
A statement from the Bureau of Prisons on Wednesday said Mr. Madoff passed away on April 14 at the Federal Medical Center in Butner, N.C. More
So that identifies this character who just arrived down here shouting, “OY, have I got a deal for you! Such a deal!”
It was Covid.
More white privilege – he had a 150-year sentence and did less than a tenth!
My dad lived in a well off retirement community in Mesa AZ when this went down. He knew a LOT of people who lost their asses “investing” with Madoff. There was a lot of finger pointing going on.
Madoff was a big Democrat donor. How much of the stolen money did the Democrats give back to the fund to compensate it’s rightful owners?
Watched the story about him a while ago.
Oh, he was a complete asshole with a giant dollar sign magnet.
And some of those people he caught with it wore metal-lined suits. lol.
And even some of those were kinda suspicious of him, but did it anyway.
@JDHasty
He definitely suckered in the New York Democrat & Hollywood Types more than conservatives. Still a piece of shit though.
NOTHING WORSE THAN A JINO
This is when Bernie finds out that his alms given to buy his way into Heaven were actually used to pay the way for someone else in on that scam earlier.
He was a master at turning people’s greed against them. There is a lot of truth in the saying that you can’t cheat an honest man.
We had a local version of Madoff down here back in the 80’s. My very good friend did everything he could to get me to invest all of my retirement savings with the husker he was using because the return was so high. I told him it was too good to be true and it was and he lost his ass. He later apologized to me and said he didn’t know what he would have done if he had caused me to lose mine, too.
And yet they are all living Scot-free in Washington DC.
Then Pelosi, Clinton’s, Bidens, Schumer, Roberts, Mitch the bitch,…., should all 300 year sentences.
Walter Noel made hundreds of millions of dollars managing a feeder fund that invested other people’s money in Madoff’s Ponzi Schemes. They lost several billion. He never was brought to heel, just lost a lot of formerly rich friends and all of his prestige in Greenwich, Connecticut. I know someone who lost everything in a small Colorado investment company that didn’t disclose exactly how they were getting a twenty percent return on their funds until Madoff hit the skids. None of the investors in these feeder funds recovered any money, only the ones who invested directly with Madoff. What a mess.
@ Hambone APRIL 14, 2021 AT 1:43 PM
The man my son is named after fell for one of these type scams and it cost him his life.
Montana: Washington state hunter missing
Authorities in eastern Montana are searching for a missing Washington state hunter.
Dale Tibbitts, 73, of Roy was last seen about 2:30 p.m. Thursday.
Rosebud County Sheriff Randy Allie says Tibbitts and another hunter were in rough country in the Long Fork Creek area, about 30 miles northwest of Forsyth, when they decided to take a nap.
Allies says that when his partner woke, Tibbitts was gone.
Associated Press
The rest of the story: The guy he was hunting prairie goats with was involved in Retriever Field Trialing, as my best friend in the world. This cat had a line of bullshit about having developed a process by which he could extract the last of the gold out of black sand and was generously offering the opportunity to cut in his “good friends.”
My friend Dale was caught up in the scheme, but had it all but figured out and most people believe he confronted the guy on the trip. Dale’s four wheeler was spotted from the air upside down three days or so later with him under it with a broken neck.
I never liked the guy, but then again I don’t like about 75% of the individuals involved in Field Trial anyway. Or maybe it is 95%, I have been away from it for quite a while now. But I really didn’t like this particular asshole.
My mother and I had been out at his home the evening before he left on the trip and that was the last I ever saw him alive. There were thousands of people at Dale’s funeral, literally thousands.
IIRC, it was Dale’s son, who had flown his personal plane over to help search who spotted the four wheeler and this much is fact, his son pursued the case against the asshole who died in federal prison.
He’ll be known as “Burnie” in his new domain.
Meanwhile, John Corzine still breathes oxygen.
Air Conditioning is not an option, it is blacker than black>
I don’t think it’s fair to paint his victims as greedy per se, there were other hedge fund/venture capital firms that were generating similar returns without bilking their clients.
You could say, in spades, that they were careless, too trusting, and not properly invested in verifying the returns promised.
It is very sad that good people who worked hard all their lives got their futures stolen from them.
“… the architect of one of the largest financial frauds in American history …”
Compared to Obola’s “Infrastructure” bullshit, Bush’s “TARP” bullshit, and Agriculture’s “SNAP” bullshit Bernie was a piker.
His crime was believing that he could do what the government does.
izlamo delenda est …
Bernie’s scheme was voluntary. Biggest Ponzi scheme around is Social Security — it will go bust and it’s not voluntary.
Now do Al Gore and his side-kicks for the global warming scam.
The day before TAX DAY.
HOW fitting.