Bernie Madoff is in serious trouble
by weaver95 on Jun.30, 2009, under Politics
How serious? Even hardened criminals want nothing to do with him.
In part:
Chetry: What were you in there for?
Levine: Narcotics trafficking, securities fraud, racketeering, obstruction of justice, and machine guns. My whole case was organized crime.
Chetry: How busy are you as a consultant prepping people to go?
Levine: My phone rings off the hook. Everybody has a problem, everyone has a question. Some people I can help, some people I can’t. Now, I had Madoff’s reps get a hold of me before he went into custody and I turned them down. I wouldn’t help the guy out because I view him as an economic terrorist. If you rip off a bank and insurance company, an institution, that’s an acceptable crime. Bernie hurt people. He hurt people individually and I refuse to help people like that. Let him rot in hell.
Even hard core criminals don’t like Bernie. This guy is a former drug dealer turned prison consultant. He takes money to help other criminals get ready to survive prison. And THIS GUY wouldn’t take Bernie as a client.
Dude. that’s harsh.
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June 30th, 2009 on 9:40 pm
I think the next real question is which family members are going to get prosecuted? Given the description of floor 17 as full of 1970s era technology with millions of statements of fake transactions, combined with him only being in the office 2 days a week, it beggars belief that anyone would accept that no one else was in on the scam (especially later on as it grew into the billions and adding many more smaller investors than the original small group of ultra rich country club buddies).
The other thing that still astonishes me is just how many hundreds of institutional investors, charity fund managers, individual investors and so on that had looked into investing with his funds and seen so many red flags in when doing even basic due diligence, and yet years later he was still going. You can see why some people that were fooled got into it - a Ponzi scheme that runs for 30+ years just really shouldn’t be feasible, both because of the exponential growth of new funds needed all the time and how many people with financial expertise had investigated the funds over that time.
June 30th, 2009 on 9:46 pm
Oh i’m sure bernie had a few buddies who helped him along the way, but those folks have to know that the Fed is gunning for their asses.