Word: madoff
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...what if your con is certain to fail? Why would any self-respecting scoundrel pick a scheme that's guaranteed to end in handcuffs and a perp walk? That's what a lot of people are asking as 70-year-old Bernie Madoff cools his heels under house arrest, charged with masterminding a decades-long, $50 billion Ponzi scheme that has incinerated wealth around the world. (See the top 10 scandals...
Then there are those keeping silent. These are the ones who recently took out large sums from their Madoff accounts. They're lying low for fear government investigators or lawyers will come after whatever money or homes they have left...
...collective indifference can kill us. Nobel Prize-winning author and Holocaust survivor Elie Wiesel knows this all too well. What must Wiesel be thinking right now? His Foundation for Humanity destroyed by a big-shot Jewish financier? Impossible. But the foundation had $15.2 million under management with Bernard Madoff Investment Securities. This represented substantially all of the foundation's assets. And the double hit for charities like Wiesel's is that there will be no tax recovery available...
...Larry Leif, 58, a successful sporting goods and toy company entrepreneur in Delray Beach, Fla., his retirement is more than on hold, it's completely disconnected. Leif, who has been planning his golden years since the age of 19, lost his entire $8 million retirement account with Madoff. Now it's nothing more than a series of phony statements he thumbs through while shaking his head...
This is one dividend that Madoff could not steal...