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Madoff bonanza(Picower widow forfeits $7B from Ponzi scheme)
NY Post ^ | 12/18/10 | KAJA WHITEHOUSE

Posted on 12/18/2010 7:04:38 AM PST by TigerLikesRooster

Madoff bonanza

Picower widow forfeits $7B from Ponzi scheme

By KAJA WHITEHOUSE

Last Updated: 8:10 AM, December 18, 2010

Posted: 11:39 PM, December 17, 2010

The widow of late philanthropist Jeffry Picower, who made billions in phony profits investing with Ponzi king Bernie Madoff, agreed to return a staggering $7.2 billion to federal prosecutors in the largest recovery to date for victims of the massive fraud.

The huge windfall brings the total amount recovered since Madoff confessed to his crimes just two years ago to $9.8 billion -- nearly half the estimated $20 billion investors lost in the scheme.

(Excerpt) Read more at nypost.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: madoff; picower; ponzischeme

1 posted on 12/18/2010 7:04:41 AM PST by TigerLikesRooster
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To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...

P!


2 posted on 12/18/2010 7:05:22 AM PST by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
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To: TigerLikesRooster

They lost half of their investment. Sorta like my 401K.


3 posted on 12/18/2010 7:07:17 AM PST by Gadsden1st
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To: TigerLikesRooster

Another remarkable twist in a very twisted plot...


4 posted on 12/18/2010 7:07:58 AM PST by April Lexington (Study the Constitution so you know what they are taking away!)
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To: TigerLikesRooster

The government had a very weak case against the Picower estate.
Barabara Picower’s action was almost entirely an act of charity.


5 posted on 12/18/2010 7:09:07 AM PST by devere
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To: devere

Maybe she wants to live in peace. People would hound her with Madoff fortune thing for the rest of her life, if she did not cough it up.


6 posted on 12/18/2010 7:13:34 AM PST by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
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To: Gadsden1st

10-4 on that. If they get 50% back they might end up better off than some 401Ks.


7 posted on 12/18/2010 7:23:35 AM PST by MrKatykelly
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To: TigerLikesRooster

The people that lost money and their lawyers are going to
descend on this like a fresh kill.


8 posted on 12/18/2010 7:24:27 AM PST by Dr. Ursus
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To: TigerLikesRooster
Wow, I wonder what the total value of the estate is if $7 BILLION can be coughed up like it was a widow's mite.

Leni

9 posted on 12/18/2010 7:29:55 AM PST by MinuteGal
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To: Dr. Ursus
In the process, nasty fight can break out, and those involved may be trading accusations of fraud against one another. This could make more people go to jail and join Madoff.:-)
10 posted on 12/18/2010 7:31:19 AM PST by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
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To: All
Jeffry Picower took out profits totalling $7.2B----making the Florida "philanthropist" the biggest beneficiary of Madoff's $65B Ponzi scheme. As a savvy businessman and investor, Picower should have known 950% was an outlandish return.....when the stock market was returning 9%.

A lawyer representing 100 Madoff victims suggests it was no accident that Picower was one of the few Madoff customers who profited from the scheme. CBS' 60 Minutes reported that in Madoff's detailed notes, he revealed Jeffrey Picower---a major Planned Parenthood backer---was receiving a 950% return, indicating Picower was in on the scheme and profitied at the expense of others.

=====================================

REFERENCE The trustee ID'ing Madoff's assets unearthed a labyrinth of interrelated intl funds, institutions and entities of almost unparalleled complexity and breadth with assets and businesses in 11 places overseas. No question, tax evasion and money laundering was the name of the game for wealthy investors funneling income to Madoff. Wealthy businessmen posing as "philanthropists" hid hundreds of millions in annual income.

Some investors were suckered in to make the scheme look legit. The suckers helped payoff wealthy investors like Picower who made deals with Bernie. Wealthy deal makers like Picower got back more than they put in.

REFERENCE Madoff ran several scams simultaneously:
(1) a Ponzi fraud that made him and his family wealthy;
(2) laundering tax-free money for phony "charities,"
(3) IRS fraud facilitation for the wealthy;
(4) a protection racket (shielding investors from L/E);
(5) laundering tax-free money destined for big buck campaign contributions (campaign fraud).

Here's another "lucky" Madoff investor. Ira Rennert, Fifth Avenue Synagogue board chair, and Chairman of Yeshiva University Investment Committee, invested some $200 million w/ Madoff.

Rennert's Hamptons Mega Mansion, Sagaponack, NY. The complex rivals Versailles and Buckingham Palace. Rennert says he is Founder of Renco Group. This obscenely gargantuan mansion, dubbed Fairfield, is reportedly the largest occupied residential compound in America Square Feet: 66,000 / 110,000 (including outbuildings). It is situated on 63 prime acres and houses 29 bedrooms and 39 bathrooms. It also has a dining room that stretches 90 feet long, a bowling alley, two tennis courts, a squash court, a 164 seat movie theater, and a 200 car garage. This home also contains a rather rare item; its own power plant. Fairfield is currently valued at more than $185 illion. Hamptonites complain this astoundingly palatial mega-mansion in the posh Hamptons is actually a "synagogue-residence-yeshiva" for Orthodox Judaism students.

11 posted on 12/18/2010 7:33:47 AM PST by Liz
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To: TigerLikesRooster

I think the feeder fund people still get screwed,but I’m
not sure.


12 posted on 12/18/2010 7:34:48 AM PST by Dr. Ursus
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To: All
January 12, 2009
National Planned Parenthood Fires 20 Percent of Staff After Madoff Scandal
Life News ^ | 1/12/09 | Steven Ertelt
FR Posted on Monday, January 12, 2009 by wagglebee

Washington, DC (LifeNews.com) -- The Madoff fundraising scandal has had some beneficial fallout for the pro-life movement. Combined with the current economic downturn, the Planned Parenthood Federation of America is feeling the pinch and has laid off 20 percent of its staff. The nation's largest abortion business, which does 25 percent of all abortions in the United States annually, laid off about 30 people this week.

Executives at Planned Parenthood confirmed the layoffs in an interview with the Crain's New York business publication. “As with many other nonprofit organizations, Planned Parenthood has had to make staff reductions at our headquarters due to the challenging economic times facing our country,” Planned Parenthood chief operating officer Maryana Iskander said.

“While taking this action is never easy, we want to ensure the millions of women and men who rely on Planned Parenthood as a health care provider that the reductions will not impact our ability to deliver care to those in need," Iskander added. What Iskander didn't discuss is the effect of the Madoff scandal on Planned Parenthood's income.

REFERENCE The Florida-based Picower Foundation, which gave substantial donations to the abortion business, shut down in December because Bernard Madoff had mismanaged its assets. The foundation was worth $1 billion and one of the top financial backers of pro-abortion groups. The charity has given away more than $189 million since 1999 and a sizable chunk of the money went to abortion advocates, including $3.2 million to NARAL, $2.5 million for the Center for Reproductive Rights, $2.4 million for Planned Parenthood, and $625,000 for the Center for Reproductive Law and Policy, according to the American Spectator.

The JEHT Foundation, which gave away $24 million last year to groups, including pro-abortion organizations, also announced in December that it would be shutting its doors. JEHT gave $1.7 million to the ACLU and its foundation and $4.2 million to the Tides Foundation, which heavily funds pro-abortion groups. News of the Planned Parenthood Federation of America laying off staff comes on the heels of one of its affiliates doing so. Planned Parenthood of Minnesota, North Dakota and South Dakota said in December that hard economic times forced it to lay off 10 employees covering nine and a half positions including its South Dakota director, Kate Looby, who has overseen the lone South Dakota abortion business, run by Planned Parenthood in Sioux Falls, since 2003, confirmed she would be fired form her position.

SOURCE http://www.lifenews.com/state3682.html

=======================================

Let's hope this means PP also gets tossed out of schools where they proselytize kids----K-12----- into the pro-killing mentality........and into the PP Rubber Cult of recreational sex. The money-hungry PP elites get federal, state and local tax dollars to keep up the killing. NOTE Pro-lifers use their own money to save the unborn.

Barbara Picower started the Picower Foundation with her husband, investor Jeffry Picower, in 1989

The Picower Foundation
1410 South Ocean Blvd
Palm Beach, Fla 33480
Tele 561-835-1332
Geographic Focus: Florida; New York; http://www.tgci.com/funding/fdnresultnew.asp?thisID=19499

The Florida-based Picower Foundation worth $1 billion was one of the top financial backers of the abortion industry. The foundation will shut down December because of investing with Ponzi crook Bernard Madoff. The "charity" has given away more than $189 million since 1999 and a sizable chunk of the money went to abortion advocates, including $3.2 million to NARAL, $2.5 million for the Center for Reproductive Rights, $2.4 million for Planned Parenthood, and $625,000 for the Center for Reproductive Law and Policy, according to reporting by the American Spectator.

13 posted on 12/18/2010 7:49:45 AM PST by Liz
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To: TigerLikesRooster

Everyone should give back their “profits.” They should be distributed, proportionately to all of the “investors.”

I am not sure I feel a lot of sympathy for any of them.

Getting returns like that really had to smell. But I guess that is the smell of greed.

You pays your money. You takes your chances.


14 posted on 12/18/2010 7:51:14 AM PST by Vermont Lt (Don't taze my junk bro.)
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To: TigerLikesRooster
The huge windfall brings the total amount recovered since Madoff confessed to his crimes just two years ago to $9.8 billion -- nearly half the estimated $20 billion investors lost in the scheme. Yawn. Wake me up when somebody does something about social security. That is the only ponzi scheme I care about right now.
15 posted on 12/18/2010 7:53:24 AM PST by TheVitaminPress (as goes the Second Amendment . . . so goes the Constitution.)
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To: TigerLikesRooster
Eventually, all the money will go to Madoff's victims

...and the key word is?

16 posted on 12/18/2010 7:53:28 AM PST by Focault's Pendulum (Please...someone...ask the asshole to leave the office.)
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To: Liz

Picower foundation, which closed because of Madoff scandal, gave heavily to Jewish causes.

By Jacob Berkman · December 21, 2008

The Picower Foundation, based in Palm Beach, Fla., is the largest yet to close in the wake of the Bernard Madoff scandal.

Started by Barbara Picower and her husband, investor Jeffry Picower, the foundation — which in 2002 gave $50 million to start a brain research center — had almost all of its assets invested with Madoff, according to the New York Times.

The foundation, which is listed as the 71st largest in the nation by the Council on Foundations, had $552,046,532 in charitable assets in 2007, according to its latest 990 tax filing.


17 posted on 12/18/2010 7:59:08 AM PST by B4Ranch (Do NOT remain seated until this ride comes to a full and complete stop! We're going the wrong way!)
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To: Gadsden1st

To bad you don’t fit the right “victim” profile to have the system recovering your losses.
You should have invested in an obvious Ponzi scheme obstensibly guaranteed to reward the financial class.


18 posted on 12/18/2010 8:24:30 AM PST by nkycincinnatikid
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To: MinuteGal; Liz
FYI..other news reports today state that the family and family trusts/charities STILL have assets worth over $ THREE BILLION. Something doesn't quite smell right here..
19 posted on 12/18/2010 8:39:03 AM PST by ken5050 (I don't need sex.....the government screws me every day..)
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To: April Lexington

http://www.huffingtonpost.com/2009/10/25/jeffry-picower-dead-madof_n_333171.html

Jeff found dead at the bottom of the pool last year is also pretty interesting.


20 posted on 12/18/2010 8:40:27 AM PST by freefdny
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To: freefdny

These folks played in a whole nuther league... Sad, sad thing.


21 posted on 12/18/2010 8:44:32 AM PST by April Lexington (Study the Constitution so you know what they are taking away!)
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To: ken5050
"Something doesn't quite smell right here..."

Yep, a whole lot of chlorine being sprinkled over this "settlement".

Maybe the merry widow doesn't want to be found at the bottom of the pool either.

Or maybe unidentified off-shore bank accounts eased her pain considerably since the gigantic settlement left her ostensibly with only a couple billions or so on which to survive.

Leni

22 posted on 12/18/2010 9:06:14 AM PST by MinuteGal
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To: ken5050; B4Ranch
December 21, 2008
Madoff financial collapse closes Palm Beach's Picower Foundation; has no more money to grant, founder says
By Kathleen Chapman | Palm Beach Post

Palm Beach - The collapse of an alleged investment scheme run by Bernard Madoff has wiped out the Picower Foundation, which was based in Palm Beach and distributed almost $270 million over two decades, including significant gifts to dozens of local programs. Barbara Picower, who started the foundation with her husband, investor Jeffry Picower, in 1989, sent an e-mail Friday to charities she supported, telling them she had no more money to make grants. The foundation will close within months.

The Picower Foundation is the largest so far to announce it was ruined by an alleged Ponzi scheme that might total $50 billion in losses. It was the second-largest foundation in Florida, with assets previously listed at $1 billion.

Almost all of its assets were managed by Madoff, whose "act of fraud has had a devastating impact on tens of thousands of lives as well as numerous philanthropic foundations and nonprofit organizations," Picower wrote in her statement.

Since 1989, Barbara Picower had supported a host of charities in the Northeast and South Florida. She gave to the Palm Beach County School District, the South Florida Science Museum and the Boys & Girls Clubs of Palm Beach County. At the Kravis Center in West Palm Beach, the foundation built the Picower Foundation Arts Education Center, with studios, art laboratories, classrooms and 4,500 square feet of rehearsal space.

Tana Ebbole, chief executive of the Children's Services Council of Palm Beach County, had four projects paid for in part by Picower. Those projects included a program that sends nurses to the homes of local mothers and an organization that helps improve the quality of after-school programs.

http://www.sun-sentinel.com/news/local/palmbeach/sfl-flpalmadoff1221pndec21,0,4725782.story

23 posted on 12/18/2010 9:44:51 AM PST by Liz
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To: All
The tax-exempt dimension to Madoff's fraud is very fishy. Madoff was connected to numerous so-called tax-exempt " charities, and family foundations." The Picower Foundation, The Chais Family Foundation, Robert I. Lappin Charitable Foundation, Steven Spielberg's tax-exempt Wunderkind Foundation, tax-exempt Yeshiva University, the Kehilath Jeshurun synagogue, the Maimonides, Ramaz and SAR day schools---and more---all invested with Madoff.

The landscape is littered with these "foundations and charities." Brooklyn, NY residents registered some 800 rax-exempts in Lakewood-----a small flea-bitten central New Jersey town.

The IRS has asserted that tax-exempt "foundations and charities" are the locus classicus for tax evasion and IRS fraud.

Investigators may be looking at the legal parameters of prosecutable crimes including making false statements to state and federal officials, filing falsified documents, obstruction of proceedings before state and federal agencies, fiduciary negligence, and obstruction of US justice.

The N/P's might have facilitated IRS fraud by integrating:

1. Secret control over N/P fund-raising committees.

2. Requiring only one signature on tax-exempt N/P bank checks.

3. Utilizing pre-signed tax-exempt bank checks.

4. Using secret bank accounts to keep secret the actual financial position of tax-exempt N/P's.

5. Assigning bank deposit and account reconciliation functions of tax-exempts to one person.

6. Conspiring to hide oversight of expenses and supporting vouchers from public view.

7. Having no outside auditor to review tax-exempt N/P's statements.

8. Cashing unusually large amounts of tax-exempt checks.

9. Having no official tax-exemp deposit and withdrawal control system.

Authorities should investigate the Madoff-invested tax-exempts's US Postal Service mailings, wire transfers, computer transfers, electronic submissions, and unregulated money transfers, and all bank transfers connected to secret tax-exempt non-profits’ bank accounts.

Fraudulent tax-exempt non-profit activities might have involved using checks passed from one account to another in multiple conspiracies to launder monies.

The stratagem could have been international in its scope due Madoff's worldwide connections.

Authorities need to determine the extent to which donors to Madoff-invested N/P's colluded in schemes that may have included misusing reserve bank accounts, concealing transfers, inflating asset values and improperly accounting for transactions.

A formal inquiry should be conducted into the Madoff-invested tax-exempts and their financial activities with officers of publicly-held companies) including (1) Enron-style accounting frauds by manipulating N/P records, (2) bundling contributions into the pockets of politicians, (3) the extent to which networks of companies are financing political candidates in the names of business partners without their knowledge or consent, (4) the extent to which officers of publicly-held companies used accounting fraud to hide illegal campaign contributions, and, (5) the extent to which campaign donations exceeded campaign-finance limits.

Charges might include Madoff-invested tax-exempt charities' accounting managers misappropriating funds to cover personal expenses, fraudulently overcharging for management services, diverting non-profit funds, then converting them to campaign accounts, or in the style of WorldCom greed spending thousands of non-profit dollars on organization credit cards for personal expenses.

A formal inquiry should be undertaken with respect to the Madoff-invested N/P's relatives, associates, co-conspirators or subsets of them, and donors (particularly officers of publicly-held companies), the business dealings between recipients, employees and elected and appointed officials and the extent to which influence-peddling is taking place, and more specifically the extent to which relatives, associates, and principles of the Madoff-invested foundations and charities and their co-conspirators or subsets of them, directed political activities from tax-free non-profit organizations in illegal arrangements.

The BIGGEST FRAUDS are between foundation and foundation .....writing checks to each other (which is the MO for laundering tax-exempt monies).

Authorities need to determine the extent to which the Madoff-invested charities manipulated philanthropic transactions, such as:

(1) loans, the (2) sale, (3) exchange or (4) leasing of property to related organizations, and donors, and the extent to which organizations reported (5) "excess benefit transactions" on Form 990, and, (6) the extent to which executive pay properly accounted for with the IRS.

The Madoff-invested charities need to reveal the dimension of contributions these organizations that may have been illegally redirected to political activity and be requested to explain:

(1) how the Madoff-invested charities solicit non-profit contributions,

(2) how non-profit donations are made, and,

(3) the manner in which donors to the Madoff-invested N/P's (particularly officers of publicly-held companies allocated company assets).

The Madoff-invested N/P's should be asked for details about who inside, and outside, these organizations is soliciting contributions, how the various subcommittees are funded, and the extent to which the Madoff-invested N/P's their donors (particularly officers of publicly-held companies) are colluding to perhaps finance political campaigns surreptitiously, and are engaging in other illegal transactions.

24 posted on 12/18/2010 9:46:33 AM PST by Liz
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To: B4Ranch
Madoff used the time-worn “affinity fraud“ MO----going after religious groups is a very popular MO. The tax-exempt dimension to Madoff's fraud is very fishy. Madoff was connected to numerous so-called tax-exempt " charities, and family foundations."

The Picower Foundation, The Chais Family Foundation, Robert I. Lappin Charitable Foundation, Steven Spielberg's tax-exempt Wunderkind Foundation, tax-exempt Yeshiva University, the Kehilath Jeshurun synagogue, the Maimonides, Ramaz and SAR day schools---and more---all invested with Madoff.

The landscape is littered with these "foundations and charities." Brooklyn, NY residents registered some 800 tax-exempts in Lakewood-----a small flea-bitten central New Jersey town.

The IRS has asserted that tax-exempt "foundations and charities" are the locus classicus for tax evasion and IRS fraud.

Investigators may be looking at the legal parameters of prosecutable crimes including making false statements to state and federal officials, filing falsified documents, obstruction of proceedings before state and federal agencies, fiduciary negligence, and obstruction of US justice.

25 posted on 12/18/2010 9:54:42 AM PST by Liz
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To: freefdny; April Lexington; Condor51
Picower found dead at the bottom of the pool last year is also pretty interesting.

At the time Barbara had just had her hair and nails done. So diving in to save him was out of the question.

The buzz is she tried to save him----she threw in wads of $1000 bills with gold money clips, and the keys to her Rolls.....to no avail.

26 posted on 12/18/2010 10:02:26 AM PST by Liz
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To: Liz
The Picower Foundation is the largest so far to announce it was ruined by an alleged Ponzi scheme that might total $50 billion in losses. It was the second-largest foundation in Florida, with assets previously listed at $1 billion.

Almost all of its assets were managed by Madoff, whose “act of fraud has had a devastating impact on tens of thousands of lives as well as numerous philanthropic foundations and nonprofit organizations,” Picower wrote in her statement.


So the foundation had $1 billion in assets, but she gave back $6 billion. Interesting that her private stash was so much larger...:^)

27 posted on 12/18/2010 10:04:41 AM PST by az_gila
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To: az_gila

No question in my mind——L/E told her if she didn’t cough up the money, she was going to jail......despite her high-sounding statement to the contrary.


28 posted on 12/18/2010 10:08:38 AM PST by Liz
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To: TigerLikesRooster

Wiki sez:

Business dealings

Picower was a certified public accountant and lawyer.[6] However, he appears to have made most of his sizable fortune by investing.[6] According to the Jewish newspaper The Forward, Picower was a donor to many Jewish charities during his career, giving away over 2 million dollars during 2007 alone.[7]

As an accountant at Laventhol & Horwath in the 1980s, Picower set up questionable tax shelters.[8] When the IRS challenged their validity, one of Picower’s clients sued him and the firm.[8] The case was quietly settled out of court.[8]

In 1983, Picower was rebuked by the Securities and Exchange Commission for late disclosure of his greater than 5% position in a company involved in a merger.[8]
In 1991, Picower and Anthony Cerami established a charity, the Picower Institute for Medical Research,[8] at North Shore University Hospital in Manhasset, New York, with an initial endowment of $10 million.[9] Researchers led by Kevin J. Tracey made a potentially valuable discovery, with possible applications in the treatment of rheumatoid arthritis, Crohn’s disease, and multiple sclerosis.[10][11]

It was spun off into a for-profit company, Cytokine Networks, which was later merged with privately-held PharmaSciences to form Cytokine PharmaSciences.

However, it was revealed that Picower owned 76% of PharmaSciences stock and actually controlled 86.2%, putting him in a conflict of interest in the merger negotiations.[8]

After Physician Computer Network, Inc., went bankrupt, Picower, the chairman of the board and 45% shareholder, had to give $21 million to other shareholders in 2000[8] after it was discovered that company executives had falsified financial statements.[12]

Alaris Medical Systems, 65% owned by Picower, was taken over by Cardinal Health in 2004 for $1.6 billion.[13]

Picower has been listed by Forbes magazine as one of the top 400 richest people in the United States for 2009, his only time on the list. Forbes, which listed Picower at No. 371, placed his net worth at $1 billion,

although the magazine acknowledged that the former lawyer and accountant is “likely worth billions more.”


29 posted on 12/18/2010 10:27:04 AM PST by DontTreadOnMe2009 (So stop treading on me already!)
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To: TigerLikesRooster
He was an "accountant and a lawyer". Here is his Florida estate. Would you do what he and his wife have done to live there? But how many would ...?



30 posted on 12/18/2010 10:43:21 AM PST by DontTreadOnMe2009 (So stop treading on me already!)
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To: Liz
*** The IRS has asserted that tax-exempt "foundations and charities" are the locus classicus(1) for tax evasion and IRS fraud. ***

Now that the G got mrs Picower to cough up all the ill-gotten gains of her late hubby they have to go after anyone and everyone who withdrew or cashed in One Penny of 'profit' from Bernie's scam.

an aside: And while they're looking at "foundations and charities" used to evade taxes I suggest they look into the one that's being run out of a house on the north side of Chicago that's being rented out. After all, how can you run a Tax Free 'Foundation' from a HQ that's in a house that has some renter living there?

And now that Rahm and his wife are in Chicago *full time*, I'm sure that Patrick Fitzgerald can squeeze them into his busy schedule for a little chat.

(1) I had to look up what 'locus classicus' meant :-)

31 posted on 12/18/2010 10:44:19 AM PST by Condor51 (SAT CONG!)
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To: Liz

Holder is trying to see if he can prosecute Jews without causing too much fuss. Maybe they deserve it for pushing “tax exempts” to the limit. I don’t know.


32 posted on 12/18/2010 10:59:52 AM PST by B4Ranch (Do NOT remain seated until this ride comes to a full and complete stop! We're going the wrong way!)
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To: Condor51

And while they’re looking at “foundations and charities” used to evade taxes I suggest they look into the one that’s being run out of a house on the north side of Chicago that’s being rented out. After all, how can you run a Tax Free ‘Foundation’ from a HQ that’s in a house that has some renter living there?


I never see this mentioned.

he lived free in DC.

And all his money goes to his own charity -—that pays only for his and his synagogue’s expenses ...

This is not a transparent tax deception?

By the future ‘’mayor” ???

Never a peep by the media ?


BTW, All, don’t forget that Eric Holder is that scum Marc Rich’s lawyer -— another tax cheat that got away;

Hell

He even got pardoned.

Without ever going to trial ...

Good ol’ Bill Clinton took care of that.

RIght after he and Swartz at LORAL made a few million bucks telling the Chinese how to better target American cities with their nuclear missiles.

And everyone here wonders why America is in the trouble we are in ...


33 posted on 12/18/2010 11:21:07 AM PST by DontTreadOnMe2009 (So stop treading on me already!)
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To: Dr. Ursus
The people that lost money and their lawyers are going to descend on this like a fresh kill.

Yeah, that's a shame.

34 posted on 12/18/2010 12:38:48 PM PST by Wolfie
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To: TigerLikesRooster
.

my thoughts ...

1) my guess is that her husband was murdered (heart attack in a swimming pool, sure !) ...

2) she received a quiet death threat that the lives of her children and grandchildren wasn't worth the 7.2 billion ...

3) she was left with a "lousy" 100-million plus ...

.
35 posted on 12/18/2010 1:10:50 PM PST by Patton@Bastogne
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To: B4Ranch

Holder is trying to see if he can prosecute Jews?
One Jew? Some Jews? All Jews? Whaddya mean?


36 posted on 12/18/2010 1:18:55 PM PST by nkycincinnatikid
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To: nkycincinnatikid

Prosecute some Jews in the US as a means to kick at Israel. Just a chicken manure sort of move.

Do they deserve it for stretching the rules on “tax exempts”? I don’t know if they deserve being investigated/ charged/ prosecuted/, I’ll leave that up to the folks on the juries.


37 posted on 12/18/2010 4:07:41 PM PST by B4Ranch (Do NOT remain seated until this ride comes to a full and complete stop! We're going the wrong way!)
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To: TigerLikesRooster

The Rich are different from you and me...” F. Scott Fitzgerald

“I’ve never been a millionaire, but I know I’d be just darling at it!” ~ Diana in Wisconsin & Dorothy Parker


38 posted on 12/18/2010 6:51:27 PM PST by Diana in Wisconsin (I don't have 'hobbies.' I'm developing a robust post-Apocalyptic skill set.)
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To: Liz

Thanks..I’ll try to find the story which stated that they still had about $ 3 billion in assets left. BTW..check out today’s Daily Beast..good story about Bernie’s “ short, fat” secretary, and her day of reckoning today...


39 posted on 12/20/2010 6:57:07 AM PST by ken5050 (I don't need sex.....the government screws me every day..)
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