Check his bank account!
I think the Feds have their eye on the money. They would go after the inheritance.
Authorities should go after The Florida-based Picower Foundation .......worth $1 billion......one of the top financial backers of the abortion industry.
Barbara and Jeffrey Picower
The Picower Foundation
1410 South Ocean Blvd
Palm Beach, Fla 33480
Geographic Focus: Florida; New York;
The number of tax-exempt "foundations and charities" attached to Madoff's scam is VERY fishy. NOTE: the IRS has targeted tax-exempt "foundations and charities" as the locus classicus for money laundering and tax evasion--- the BIGGEST fraud is one charity writing checks to another charity---the way these "altristic philanthropists" siphon off funds for themselves--all tax-free.
Picard sued longtime Madoff "investor" Jeffry Picower (Picower took a startling 950% return) to recover $6.7 billion for victims; Picard seeks another $500 million after finding additional evidence of Picower's excess withdrawals. Picower's $7.2 billion withdrawal from Madoff's firm, makes the Florida "philanthropist" the biggest beneficiary of Madoff's $65 billion Ponzi scheme.
It was recently uncovered that Madoff kept detailed notes about his activites and that some "investors" made deals, demanding specific returns on investments, meaning they were in on the scam. Some investors also wrote Madoff personal checks......evidence of tax evasion and money laundering.
REFERENCE CBS' 60 Minutes reported 9/27/09: Madoff's detailed notes reveal Jeffrey Picower---a major Planned Parenthood backer---was receiving a return of some 950%. According to the court-appointed trustee Irving Picard, this indicated Picower was in on the Ponzi scheme and was profiting at the expense of other investors. As a savvy businessman and investor, Picower should have known 950% was an outlandish return, Picard indicated.
Bernie was hightailing it to global money-laundering havens just before he got nailed. $12B was pulled out of Bernard L. Madoffs firm in 2008, and $6B just three months before he was arrested last Dec.....BVI's Vizcaya Partners Ltd. and Gibraltar-based Banque Jacob Safra Ltd. got $150M (that we know of) about six weeks before Madoff was exposed.
Picard, who is ID'ing Madoff's assets, unearthed a labyrinth of interrelated international funds, institutions and entities of almost unparalleled complexity and breadth...... and assets and businesses in 11 places overseas. No question,tax evasion and money laundering was the name of the game for the wealthiest Madoffians-----businessmen who were funneling income to Madoff to avoid US taxes, acting like "philanthropists."
LABYRINTH OF MADOFF'S SOCIAL-RELIGIOUS-PHILANTHROPIC TAX-EXEMPTS THAT RAKED IN BILLIONS---INTERACTIVE AT WEB SITE
Some victims have pushed for legislation that would change the rules and allow the SIPC make payments to people whose money was lost through so-called "feeder funds." Their proposals haven't picked up momentum, though, in part because of a public perception that most Madoff victims were, and remain, quite wealthy.
Letters and e-mails from less wealthy victims have poured into the courthouse. Seems like Madoff allowed a few working class people into his exclusive investment scheme. These people were used as a funding source to insure the filthy rich Palm Beach crowd could keep on sucking out profits..........like Picowers 950% takeout.
A retired elementary school teacher in Fort Lauderdale, Fla., wonders what to do next. She rolled $225,000 from her retirement plan into a fund run by a well-regarded member of her church, who in turn invested it with Madoff. Now, it's all gone. If she had known Madoff personally and invested with him directly, she might be able to get every dime of her investment back through SIPC. Instead, she may get almost nothing. For now, she said, the only solution is for her husband to put off retirement and keep working, even after recent sextuple bypass surgery. "We really did need that money very much," she said. "I am in constant anguish."
A single mother wrote about trying to save money by turning down the heat in the house and keeping the lights off. Victim after victim said they were being forced to sell their homes. A Connecticut doctor said his practice's entire retirement plan had been wiped out, leaving 140 employees in the lurch.
"People like us, we are invisible," said a farmer near Boulder, Colo. who lost her savings in the scandal. "We feel we are all victims of the same crime, and we should be entitled to the same relief (as Madoff's wealthy victims)."