Tuesday, July 15, 2014
Bernie Madoff did not go to jail. He is under house arrest as an ambasador in the embassy in a tax haven island transfering the presidents illgotten gains to secret accounts at this moment. Putin Stone 300 billion dollars Should'nt the president of the US steal 4 trillion for his personal empire?
Why Police May Not Want to put Bernie Madoff in Jail Lex Loeb Contributor Network . It is no surprise that police investigating Bernie Madoff May not want to put him in Jail, at least not immediately. Why? Because the police want to do more than just audit Madoff cooked books. The books are already cooked, pre-cooked and well done already. One of the best ways to learn about how a con-artist behaves is to observe him in his natural environment. It is a good bet that Madoff is under constant surveillance and every phone and computer he has access to is bugged, Everyone that goes in and out of his office building and home apartment building is probably noted and recorded. We just heard that his mail is being inspected as authorities revealed that he or family members had mailed gifts of value to friends and relatives. The interesting thing there is these gifts were sent before his arrest. If Madoff is running more than one scam and these are still ongoing , putting him in Jail would prevent authorities from fully investigating. The authorities may have actually begun the investigation long before the announcement that Madoff had confessed, or they should have . When Madoff's story went public at his own confession he pretty much announced to any or all co-conspirators anywhere around the world to lay low. A lot of investor money that could have been reclaimed might have just gone poof at the moment that the news media had to put the story on the front page. Co-conspirators might have been likely to have contacted Madoff if they thought nothing was wrong and Madoff was still in business running his scam. Madoff may have wanted it all to be on the front page as soon as possible so any associates could go deep underground. Investigators could still luck out if some Madoff co-conspirator has been on vacation and not been exposed to the news yet. The last thing anyone investigating Madoff wants to do is shut off his phones in case someone with clues phones in. Very unlikely to happen. Chances are all family members are being tracked to see who they meet with , when and where they go now that Bernie is under home arrest. Bernie will have to hire lawyers to defend him or get a pro bono lawyer. A pro bono lawyer for a crook who says he stole 50 billion dollars? Is that a joke or what? Any lawyer becomes instantly world famous . You can't buy free advertising like that so the lawyers are probably lining up to go pro bono even if Madoff can pay. Madoff left lots of evidence and probably a lot of false leads as he turned himself in to authorities. The sons would more likely have turned in their father to authorities because they discovered one or more mistresses that they thought was disingenuous to their mother than they would because he stole 50 billion dollars? Putting Madoff in Jail probably shuts of chances to find some loose ends Madoff did not think of. People like Madoff then to owe people who are not his marks or they owe him. That might be the best way to find out what he is hiding . Jail won't necessarily help as family members and worse attorneys with attorney client confidentiality will shut off if Madoff can't pull his own strings in jail. Its smart to let Madoff rock and roll to see how he does go about dealing with attorneys , who he borrows money from and more. It is a good bet that Madoff can say he is broke and still instantly pull a lot of cash out of a hat. It is also fishy that apparently his wife still trusts him. This is a guy who swindles his best friends so the Wife is just about as easily duped. Assuming Madoff could have just taken ten percent of all of his transaction for himself over the years of running 50 billion that would be 5 billion out there somewhere. The way the investigators will tell the story is that Madoff took a lot less than ten percent over the years and either consistently lost money on investments he made or he did that or made some money and paid out more than he took in. That makes no sense. Con artists are not going to take exceptional risks of stealing client money and not take a higher percentage. The only reason drug dealers go into that business is because the money is good , real good, good enough that they overlook the risks of getting caught. It is hard to believe that a risk manager like Madoff would take significant risk stealing from accounts and not take a much higher percentage or net. It makes no sense even if he ultimately proclaims that he was doing it as a sort of Robbin Hood for Charities. Someone buying bonds in a nearly bankrupt company may want a 30% yield before they invest the money where as the same person will settle for 2% yield for bonds in a company thats likely to be around for 100 more years. Madoff is not going to risk going to jail for life for a few hundred million dollars when he can risk stealing billions with the same penalty costs if he gets caught. The limitations for Madoff were being able to pay out dividends yields promised and principle when an investor decided to get out. That is what got Madoff in trouble. He is saying he paid out or lost 50 billion dollars and only took a few hundred million for himself. Very hard to believe even with the story that his caution in not going over the top allowed the scam to run for 20 plus years. When the government investigators accounting of Madoff losses comes out it will not be believable. The only thing that can be believed is the collection of statement claims of investors who show what went in and some trade data. One might think that would be enough to piece together the whole fraud investment schedule. It is doubtful. .