Madoff's Mother......In August 1963, the SEC announced it was...

[Joanne98]

Posted in money matters by emsnews on January 17th, 2009
Everyone is now chattering about the latest news about Madoff’’s bizarre family. In tonight’s case, it is his mother. Ah, the son suckled such sweet milk at mama’s teats! Evidently, she and her husband were also con artists. Time to snoop around and see what we find. I don’t know if I hit pay dirt or not. We shall see. The Madoff crime family has as many tentacles as any Italian Mafia family. Who knows what else is hidden under the rocks? Tonight, we look at much older SEC filings and look into Gilbraltar Securities.

Madoff Mess: Mother had a run-in with the feds - Jan. 16, 2009

Accused Ponzi schemer Bernard Madoff was not the first person in his close-knit family to run afoul of federal authorities. A broker-dealer firm registered in the name of Madoff’s mother, Sylvia, was effectively forced to close by the U.S. Securities & Exchange Commission more than 40 years ago.

In August 1963, the SEC announced it was “instituting proceedings…to determine whether” 48 broker-dealers, including“Sylvia R. Madoff Gibraltar Securities,” had “failed to file reports of their financial condition…and if so, whether their registrations should be revoked.”…Despite Sylvia Madoff’s SEC registration as a broker-dealer, three high school classmates of Bernard Madoff say they don’t recall her being a stockbroker (something that would have been unusual, and memorable, in that era - not to mention theoretically easy to spot given that the firm’s address was the Madoff family home in the Laurelton neighborhood of Queens, N.Y.).
Sylvia probably was a front woman. All criminal organizations much prefer to operate with a naive looking or innocent looking front. Sylvia probably provided this. She was not rich. She was working-middle class living in the Far Rockaway Beach Jewish community at that time. Now, I am very familiar with the complex of Jewish communities that are strung along the Atlantic shores, clustered around the furthest subway terminals. Sea Gate is the one furthest to the southeast of NYC, nestled against Coney Island’s boardwalk community. Then there is Brighton Beach which has been heavily re-colonized by a more recent wave of Russian Jewish immigrants. Then there is the Far Rockaways in Queens.


http://emsnews2.wordpress.com/2009/01/17/all-in-the-family-viii-sylvia-madoffs-sec-troubles/

[RUMMYisFROSTED]

1. MCF?

:rofl: