Free Republic
Browse · Search
Topics · Post Article

To: Liz; STARWISE; LucyT
Does this mean that his wife inherits the money without any danger of being indicted for her husbands crimes? mmm-mmm-mmm
3 posted on 10/25/2009 1:35:37 PM PDT by hoosiermama (ONLY DEAD FISH GO WITH THE FLOW.......I am swimming with Sarahcudah! Sarah has read the tealeaves.)
[ Post Reply | Private Reply | To 1 | View Replies ]

To: hoosiermama

Check his bank account!

5 posted on 10/25/2009 2:29:27 PM PDT by Deagle
[ Post Reply | Private Reply | To 3 | View Replies ]

To: hoosiermama

I think the Feds have their eye on the money. They would go after the inheritance.

7 posted on 10/25/2009 2:34:44 PM PDT by BunnySlippers (I LOVE BULL MARKETS . . .)
[ Post Reply | Private Reply | To 3 | View Replies ]

To: hoosiermama; CutePuppy; stephenjohnbanker; Landru; maggief; GOPJ; Condor51; Just mythoughts
Does this mean that Picower's widow inherits ALL the money without any danger of being indicted for her husbands crimes?

Authorities should go after The Florida-based Picower Foundation .......worth $1 of the top financial backers of the abortion industry.

Barbara and Jeffrey Picower

The Picower Foundation
1410 South Ocean Blvd
Palm Beach, Fla 33480
Tele 561-835-1332
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. Madoff’s 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."


13 posted on 10/25/2009 4:52:27 PM PDT by Liz (ALL FOX---ALL THE TIME---24/7)
[ Post Reply | Private Reply | To 3 | View Replies ]

To: hoosiermama; Landru; maggief; CutePuppy; GOPJ; Just mythoughts; stephenjohnbanker; smokingfrog; ...
Madoff's working class victims view all of this w/ a mix of disgust and disinterest. Some are losing their homes.

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 Picower’s 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)."

25 posted on 10/26/2009 10:13:19 AM PDT by Liz (ALL FOX---ALL THE TIME---24/7)
[ Post Reply | Private Reply | To 3 | View Replies ]

Free Republic
Browse · Search
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794 is powered by software copyright 2000-2008 John Robinson