BERNIE CASH STASH OFFSHORE LOOT SOUGHT

[kpete]

Source: New York Post

BERNIE CASH STASH
OFFSHORE LOOT SOUGHT

By LAURA ITALIANO
BERNARD MADOFF Tax havens eyed


Investigators believe that Bernard Madoff has stuffed hundreds of millions of dollars in Ponzi profits into offshore tax havens from which they could prove tricky to recover.

In the weeks since his Dec. 11 arrest, forensic accountants have been scouring Madoff's books as federal officials ready an indictment against the hated hedge-funder, who remains under house arrest in his $7 million Upper East Side penthouse.

Madoff Trustee Seeks $28M for Costs

The accountants believe Madoff regularly sent bundles of money to offshore accounts in the Caribbean and Europe, the Observer newspaper in London reported yesterday.

Read more: http://www.nypost.com/seven/12292008/news/regionalnews/bernie_cash_stash_146315.htm

[Taverner]

1. Damn now thats a headline

NY Post, they may be run by wingnuts, but they makes some pretty cool headlines sometimes

[Happyhippychick]

3. My favorite was when they discovered Boosh's lurid past and ran: D Dybya I

[Freddie Stubbs]

12. I knew that was a NY Post article just by the headline

[Sarah Ibarruri]

2. What's wrong with having this man spend the rest of his life in prison, so the money will be no good

to him?

[olddad56]

4. I'd almost break the law to be confined to a 7 million dollar penthouse. ..

This guy needs to meet the people who have comitted lesser crimes than he, and get to know them from the inside.

[Sarah Ibarruri]

6. Who said confine him to a multi-million dollar penthouse? Why not "THE PEN?"

Let him eat gruel, work at the laundry washing the nasty stuff off the crotches of other prisoners, and have to fend off really mean people to protect his criminal thief ass from lesser thieves than him.

[olddad56]

10. That is my point..

Being confined to a 7 million dollar penthouse is not jail. let him be lokced up in your average large county jail. Let him see how people are trated when they are locked up for real. Let him be Bubba's girl for a week.

[Sarah Ibarruri]

11. That would be great. It would give quite a few of us a reason to smile nt

[alcibiades_mystery]

14. Yeah, the Vicarious Rape Fantasy crew would just love it

:puke:

Vicarious Rape Fantasies have to be opposed wherever they appear, as they are part and parcel of the Rape Culture.

[Sarah Ibarruri]

16. I wouldn't care how many times some people get raped....

Not that I'd dwell on it, since I have zero desire to rape anyone (I'm female), but you know what? This administration could get raped repeatedly and I'd be oblivious to their suffering. They've killed so many and destroyed our country.

[alcibiades_mystery]

17. That's a despicable position

You contribute to the Rape Culture every time you accept rape as an acceptable social sanction.

You should be ashamed of yourself.

[alcibiades_mystery]

13. Big fan of prison rape, are ya?

Real ethical.

:eyes:

[deadmessengers]

31. So, rape is a good thing, now? n/t

[aquart]

5. Or his children.

How do we make sure nobody related to this man ever enjoys a penny of it?

[Sarah Ibarruri]

7. Find out what illegal things their probably-equally-crooked kids are doing, and land them in

the same damned prison as their criminal pappy.

[closeupready]

28. I don't think we can. That's the 'beauty' of numbered accounts -

they are nameless and accessible only to those with code numbers and words, and I'm not sure all how it works, but I don't think this money will EVER be traced or recovered, personally.

[JDPriestly]

8. The money needs to be returned.

A good share of the money belonged to charities, many of which gave to liberal causes like the American Civil Liberties Union. This is not just about rich people fighting over money.

[Sarah Ibarruri]

9. There are so many people that need to be thrown down into a bottomless well and left there! nt

[Baby Snooks]

20. There is no cash...

There is no cash. This is just more tabloid "sensationalism" that permeates our entire media. The New York Post and the New York Daily News would both love nothing better than to get a photo and run a story about some otherwise upstanding New Yorker slamming Bernie Madoff to the pavement as he left his apartment building and demanding to know where he hid the cash while then smashing Bernie Madoff's face into the pavement. Might happen. Particularly if they keep running stories about how he hid hundreds of millions of dollars in offshore accounts.

Although it certainly might get Caroline Kennedy appointed to the US Senate. She could smash Bernie Madoff's face into a sidewalk while screaming "Where's the money you slimeball?" Everyone in New York would suddenly love her.

Supposedly Ken Lay and Jeff Skilling and Andy Fastow also funnelled hundreds of millions into offshore accounts as well. To date, not one dime has been found. Maybe because it isn't there?

[earth mom]

25. You can NOT be serious! Madoff is a DISGUSTING THIEF! And so was Ken Lay & the rest of them!

Why don't you talk to the victims of these scammers and then get back to us about there being no money stolen & it's all a mistake. :crazy: :freak:

[Baby Snooks]

27. Why don't YOU learn to READ?

I didn't say they didn't steal the cash. I just said they didn't stash the cash. But put on your tin-foil hat and keep looking for it along with Ken Lay. Be sure to keep us up-to-date on his whereabouts.

[JDPriestly]

34. Maybe it never existed. It may have been just borrowed -- just credit.

[Kutjara]

15. Several hundred million dollars gives him plenty of cash to tuck...

...into the pockets of cash-strapped prison guards to accidentally leave the door open for him. Then it's bye-bye Club Fed, hello Club Med.

Cut off his loot, and he'll stay in jail.

[Tansy_Gold]

18. Convicted coin dealer settles in at new confines in southeast Ohio

http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20081228/NEWS24/812280316


Noe, 54, arrived at the minimum and medium-security prison that houses 481 inmates earlier this month. His life consists of lining up for head counts several times each day and working as a laundry attendant, making $16 to $24 per month - a far cry from the millions the state allowed him to invest and the million-dollar homes he lived in along Lake Erie and in the Florida Keys.

"He gets up around 6 a.m., cleans up around his bunk, goes to breakfast, then goes to work in the laundry," said Robin Gee, the spokesman for the prison, recalling the typical day in the life of a Hocking inmate.

His afternoon is filled with more work in the laundry, three head counts, lunch and dinner, and then recreational activities, such as arts and crafts, movies, card games, or exercise - but no Internet, Ms. Gee said. Visitors are allowed five days a week.

*******


In time, Noe can become a minimum-security prisoner, which potentially could qualify him for jobs outside the prison, such as working on crews picking up litter along expressways.

[cliss]

23. It was for his kids.

Mr. Madoff knew that the jig was up. It was only a matter of time before the

Re: money.
I suspect he made sure a BIG chunk of change went to secure places. Probably 1 to 2 billion, deposited in Asian accounts. Like in Singapore, maybe Hong Kong. Why would he put it in Swiss banks, when that's the first place they'll look.

Expect more surprises from this man.

[louis-t]

19. His attorneys will delay his trial for years

so he can stay safe and warm in his penthouse. His assets cannot be sold or seized until he is found guilty, can they? Smart judge would have said "no bail" because of the seriousness of the crime and the amount of people affected. His trial would have started a lot sooner if he were rotting in a cell someplace. (I typed "rotting in a cello", that's funny)

[WriteDown]

22. Seriousness of crime and people affected have no bearing.

The only things considered are danger to society and flight right. Just saying.

[sendero]

29. The guy..

... will never be free the rest of his life, yet he's not a "flight risk"?

bullshit, just another example of how the justice system treats rich people different than poor.

Someone should assassinate the dude and there are many who think that they will.

[WriteDown]

30. Just outlining how that decision is made....

and your call for assassination is a little disheartening. Its money. Life in prison is fine with me.

[Tandalayo_Scheisskopf]

21. Two Words:

Cayman Brac.

It has been said there are storage facilities, rather stout indeed, where great pallets of cash and other hard, metallic assets are stored for the safe-keeping of clients.

On Edit: It also has beaches, perfect for amphibious assault. Apropos of nothing, I assure you. ;-)

[pjt7]

24. fly him to Syria &

get some real answers.

he's a financial terrorist.

[closeupready]

26. Of course.

why wouldn't he have done this?

[susu369]

32. Y'all are so mean

Bernie explained that he was crazy. So there.

:sarcasm:

[naaman fletcher]

33. I'll bet the money is not there..

It makes little sense to put that kind of money overseas, and either not use it to prop up the Ponzi scheme, or, barring that, flee to whatever country these days does not have an extradition treaty with the US.