A Very Madoff Christmas
Federal prosecutors are trying to get alleged Ponzi schemer Bernard Madoff’s bond revoked. It seems that Madoff and his wife mailed out a few trinkets to friends and family on December 24th. About one million dollars worth of trinkets.
NEW YORK — A United States prosecutor on Monday said alleged Ponzi scheme mastermind Bernard Madoff should be jailed for violating an agreement with the court by mailing out jewelry and expensive watches worth over $1 million to relatives and friends.
Assistant United States attorney Marc Litt, said Madoff violated a court injunction that forbade him from transferring any assets either of his company or his personal assets. “On Dec. 29 and Dec. 31 … jewelry and other valuables belonging to the defendant were transferred by the defendant and his wife to third parties,” Litt said, according to transcripts of Monday’s court hearing.
Madoff and his wife, Ruth, sent antique watches, pens, mittens and jewelry to their brother and two sons, and also to a family friend in New York. Litt said the value of the items is worth over $1 million.
Oh, by all means do click the link just to see Madoff smirking for the camera. This guy has no shame whatsoever. His investors are out a lot of money, to the tune of $50 billion and all the official assigned to recover the assets of Madoff’s firm has been able to find is about $830 million. One presumes Madoff’s smirk indicates that the rest of the missing money was mailed elsewhere as well.
By Sam, January 7, 2009 @ 4:21 pm
The very definition of chutzpah.