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To: Ladycalif
Mark and his brother immediately consulted a lawyer and were advised they had to report their father’s confession to law enforcement. They did so, and the following morning their father was arrested at his Manhattan penthouse

I didn't know this part. Sounds like the kid did the right thing.

5 posted on 12/11/2010 7:42:03 AM PST by palmer (Cooperating with Obama = helping him extend the depression and implement socialism.)
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To: palmer

No, he did not do the right thing. His father, his brother and he all knew that their scam was about to implode. So they agreed that the father would claim he acted alone and that the sons would turn him in to avoid prison themselves. That was the deal, and a very cynical and amoral one at that.


27 posted on 12/11/2010 8:01:57 AM PST by wideawake
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To: palmer
I didn't know this part. Sounds like the kid did the right thing.

Bernie's story was that he was the only family member that knew his business was a scam.

I have always doubted this, but I don't really know.

Bernie knew the house of cards was collapsing. If he wanted his sons to be protected and not live out their lives in prison (and separated from Bernie's grandchildren) then there had to be a story.

The story of Bernie's "confession" and the subsequent call to the police by his son would be easy for the Madoffs to contrive.

I have always assumed that this is what happened, but as I've said I don't really know.

34 posted on 12/11/2010 8:06:11 AM PST by rogue yam
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To: palmer

I don’t understand how a spouse is exempt from testifying against a spouse, but a parent or child isn’t.


60 posted on 12/11/2010 8:39:38 AM PST by FrdmLvr (Death to tyrants)
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