Article

2009-02-09 -Lurid Crime Tales-

SEC And Madoff Reach Agreement On Fraud Case

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Posted by GolfBravoUSMC 2009-02-09 15:29|| || Front Page|| [11133 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

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