GUILTY NY - Bernard Madoff charged in $50 billion fraud, 2008 - dies Apr 2021

[MeoW333]

NEW YORK (Reuters) – "Bernard Madoff, a quiet force on Wall Street for decades, was arrested and charged on Thursday with allegedly running a $50 billion "Ponzi scheme" in what may rank among the biggest fraud cases ever."
http://news.yahoo.com/s/nm/20081212/bs_nm/us_madoff_arrest

 

[SteveHuff]

I have read that some think this may be bigger than Enron. Even more amazing that it seems like it all tracks back to Madoff himself.

 

[Buzz Mills]

Fund Manager Tied to Madoff Case Found Dead

1:25 PM ET: Multiple news outlets in New York are reporting that a hedge fund manager who reportedly invested heavily with Bernard Madoff was found dead this morning in his Manhattan office.

Thierry Magon de la Villehuchet, 65, was pronounced dead at 8 a.m., according to a Reuters report that cited New York City Medical Examiner spokeswoman Ellen Borakove. The cause of death is not known yet.

He was co-founder of Access International.

Prosecutors have alleged Madoff engaged in a $50 billion Ponzi scheme.

http://voices.washingtonpost.com/economy-watch/?hpid=topnews

 

[MeoW333]

Sounds like a hit.

 

[oceanblueeyes]

Sounds like a hit.

Fox has been reporting that he committed suicide.

imoo

 

[mostlylurking]

Fox has been reporting that he committed suicide.

imoo

Fox would.

 

[MeoW333]

It could have been staged to look like a suicide.

 

[MagicRose99]

I'm not understanding the "hit"... this man was a victim of this slime ball Madoff... how would it be a "hit"?!?!?!

 

[colette]

I'd say it's the first of Madoff's victims to die and Madoff has blood on his hands. I hope they lock him up and throw away the key. He should not be out on bail right now, he is an evil man.

 

[lizzybeth]

The first thing I thought was suicide also. The article states he invested $150 million. Losing that much money at the age of 65 might make a man think about taking his own life.

 

[colette]

Rene-Thierry Magon de la Villehuchet, 65, was found sitting at his desk at about 8 a.m. with both wrists slashed, NYPD spokesman Paul Browne said. A box cutter was found on the floor along with a bottle of sleeping pills on his desk. No suicide note was found.


He grew increasingly subdued after the Madoff scandal broke, arousing suspicion among janitors in his Madison Avenue office tower Monday night when he demanded that they be out of there by 7 p.m. Less than 13 hours later, a security guard checked on him in his 22nd-story office suite.

Sad, he seemed like a nice man... more about him in this article:

http://www.google.com/hostednews/ap/article/ALeqM5jFShThgSBha0jHZDYmaPD_dXJdEQD958PCC00

 

[TCMom]

A Dallas news station reported tonight that "The Innocence Project" is another victim of Madoff. The Innocence Project, started by Barry Scheck has helped to free many wrongly convicted people based on DNA. They said they have enough money to complete scheduled tests, but they will have to find additional funding to continue. I feel for all of the victims including this guy whatever the circumstances of his death were.

http://www.dallasnews.com/sharedcontent/dws/dn/latestnews/stories/122408dnmetdnamoney.3a5ff29.html

 

[MagicRose99]

I'd say it's the first of Madoff's victims to die and Madoff has blood on his hands. I hope they lock him up and throw away the key. He should not be out on bail right now, he is an evil man.

I agree... he should be rotting in a cell right now, but, I guess money, even evil money, buys freedom.

This man has no morals or scruples. He bilked em' all. Didn't matter if they were rich, poor, young, old, personal, business, non-profit... he just sat back and took their money.

Now, he's sitting pretty, watching what his evil machinations have rot. Slime ball... I hope someone takes a gun and puts a bullet in his head.

 

[MeoW333]

Interesting twist...

Under a new bankruptcy ruling, any investors who withdrew cash from the hedge fund run by Bernard Madoff before the $50 billion (£34 billion) fraud was discovered could be forced to return their original investment and any profits.

So even those who got out before the collapse may still lose their money.

That link brought up a girl in a swimsuit..

 

[colette]

That link brought up a girl in a swimsuit..

Lol, funny... but he is right.


"According to Reuters, because of a legal concept known as “fraudulent conveyance,” investors who took their money out of Madoff’s funds before the fraud was discovered might have to return their profits to help offset losses incurred by others who stayed in. Basically, those “profits” were just an illusion, because Madoff was simply using funds from new investors to pay off old ones."


http://www.newsinferno.com/archives/4387

 

[scandi]

A Dallas news station reported tonight that "The Innocence Project" is another victim of Madoff. The Innocence Project, started by Barry Scheck has helped to free many wrongly convicted people based on DNA. They said they have enough money to complete scheduled tests, but they will have to find additional funding to continue. I feel for all of the victims including this guy whatever the circumstances of his death were.

http://www.dallasnews.com/sharedcontent/dws/dn/latestnews/stories/122408dnmetdnamoney.3a5ff29.html

Hi TCMom and thanks Dear Buzz for the OP,

That is more than sad as The Innocence Project has done so much good in our world. It will endure this and succeed with generous donations IMO

I am thinking that this man was of the old school. To have represented integrity to his clients that turned out to be simple dishonesty was beyond the call of what he could live with. And he felt guilty for being so suckered in, thinking he should have known better and read the signs written on the wall. To have his clients so duped was more than he could live with, and he ended it.

Quite a statement IMO. xox

 

[MagicRose99]

Well, that was special. Wonder how the heck THAT happened. I'll fix it.

Well, gee... I wonder...
....
Girl in swimsuit...

Huh... go figure... :crazy:

 

[chicagofa13]

I'm not advocating suicide, but I think this man did what he felt was honorable. He failed a lot of people, even those in his office questioned Madoff but he continued to invest.

Madoff should be in jail NOW, not out in his flipping penthouse. Ugh. Makes me sick.

 

[colette]

...sniped....

Madoff should be in jail NOW, not out in his flipping penthouse. Ugh. Makes me sick.

I'm with you! Also his homes should be taken right now, so they can be sold and the money goes to the victims. You know he is going to drag this out and live like a king while he does it.

 

[chicagofa13]

I have to say I am pleased his sons did the right thing and turned him in and refused to post bail (although he still got out, which is wrong!). So many families will stick together even when they see wrongdoing.