Fraudster Madoff gets 150 years

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Fraudster Madoff gets 150 years

Post  Sirop14 on Mon Jun 29, 2009 9:12 pm

Before we publish the actual article, there is something that needs to be said here.

In 2004/5 after we had come back for Seychelles, the mega Tsunami and earthquake had taken place, those in the USA from the White House, the State Department, the CIA, the FBI and others including the Masonic fraternity - those with special training from Harvard, Yale, Colombia elite University - their attitude and approach. Only they can decide when the whistle ought to be used /applied or blown - including the USA Judiciary.

We had done our best given our resource to explain that there were very gross abnormality's at work - those who threaten, including the like of Tony Blair and his Ministers to have us arrested or killed.

We will use the name of Mr Madoff - because we have been in indirect contact with several of his organizations - the mechanism which regulate and manage - the USA Markets and other major investments. We have never met him in our field of work you do not have to meet people directly to work.

The former US Mr Alan Greenspan knew of the links, connections and working along with other Central bankers be they in London, EU, Japan, France. They knew or had to know what was going on or how the system was working - this form part of the very complex and complicated management mechanism. Yet at this Trial none of these individual have been called to give evidence - including the former governors of the bank of England who knew what system was in place and how it worked.

Leave aside the above mentioned - last night in a documentary part of the Financial situation the debate of the $billions Harvard, Yale, Colombia have lost. What we cannot understand here is that our initial training by Dr, Prof Micheal Hoffman who had concepted - designed the concept of Vienna Interdisciplinary Management Institute - sister/cousin/relative of the Davos WEF his vision or rather their vision then - how over the past 25 years those of us who have developed, expanded and improved the working disciplines - how we have been able to make major contributions and in put in White House policy, USA economic workings, world monetary working and economic workings - those mentioned in the first part of this thread who have been aware and were aware - the question when they become aware of what. Dr Prof Micheal Hoffman had lectured at Harvard. He had based his thinking integrating them into the German/Swiss thinking - how they worked and had worked which powered, the dynamic of the COMECON changes, changes in USSR and most important the economic and political, social development.

The very strange ways the world system works - beside Mr Alan Greenspan, those who advised the USA Presidents, those from the World Banks unofficially use the management system developed and constantly being revamped by the like of DR Prof Hoffman Vienna Interdisciplinary Management Institute in our person IOIMF all those who know and are still using the system even after the major world financial crash and economic crash.

What the USA Judiciary have not done, look deeper in the working of the management of global financial system and its management. Mr Madoff took the ultimate onus - because of the inability of the USA Judiciary to look deeper into the world financial working/management system. In other words there are big boys, big managers, so call experts using the disciplines developed by Vienna Interdisciplinary Management and its hydride - integrating it into their system. The reason there have been three or four major financial and economic crash is the fact the system , disciplines have been used - just like a scientific formulate or invention and they are not being paid a cent, they do not get any recognition, they are being pirated and robbed by respectable citizens of the USA, EU and the world. The system and those responsible allow them to do this up to a time and limit then - call them to account. Mr Madoff and hundreds of others knew and have known of these facts and what would happen.

We have tried to follow the public - those who lost and invested with him. Most of them have no clue how the greater complex monetary and financial system/mechanism worked - Yes they have the normal Banking and other regulatory mechanism - but above that and most important driving the working of the big banks and their financial institutions and the global economy other more complex and complicated mechanism - which the vast average investors including many of the very large Houses and highly resourced failing to understand and grasp what is at work daily in the world market and causing certain impacts.

Where ever Mr Madoff and that other Lord who is being tried - those and their media scam who have refused to do a proper work - Micheal Jackson has been killed again not many understand and will have the capacity to understand what is at work here. Even in Jail they have Internet - very likely he and others have far better resource than those of us - who have been slaving away for the past 25 years. Somebody ought to point our thread comment to him and his lawyer - he ought to be allowed to come back and debate or add his comment. We have been very brief here. Whilst we are writing this thread we think of very many in Seychelles, Mauritius, South Africa, France, Italy, Ireland and Britain, Russia.

In order to let Mr Madoff - those who really know what the mega Financial collapse in the USA and the world is all about - have added a You Tube link of Celin Dion and Barbra Streisand, the year 79/82 what made those two to come together and sing the duet. The situation in then COMECON, USSR - FA Rene, Sir James Mancham, Mr Gerrard Houreau on the 33 years of Sechelles - Seychelles independance, our personal aspiration - love is very dangerous if it goes very wrong. The world forgets to fast, including the Masonic Fraternity - the Illuminati. The time is 12.30 am for the first time over very many years the havean is all lit up and the stars are very bright

Unravelling the 'Madoff hustle'

Bernie Madoff managed to fool people all over the world

A man whose father killed himself after losing his life savings in Bernie Madoff's $50bn (£35bn) investment scam, has travelled across the US unravelling how he fooled so many people, for so long.

Madoff is to be sentenced on Monday for masterminding the biggest con the world has seen, which lasted for decades, netted billions of dollars and ruined thousands of lives.

The 71-year-old fraudster is expected to spend the rest of his life behind bars for orchestrating an enormous Ponzi scheme from his New York headquarters.

Major Bill Foxton
I wanted to take all the medals my father had won for gallantry and throw them into Bernie Madoff's face
Willard Foxton

'Banking crisis killed my father'

One of his victims was William Foxton, a 65-year-old retired British army major, who shot himself in a Southampton park in February after discovering Madoff had cost him his life savings.

He had worked in the world's conflict zones - Oman, Bosnia, Kosovo and, Afghanistan. In 1999 he was awarded the OBE for his work in Kosovo.

His son, Willard Foxton, 28, went on a 14,000-mile journey to New York, Boston, Florida and California after his father's death.

"I wanted to take all the medals my father had won for gallantry and throw them into Bernie Madoff's face, to make Madoff know the sort of man he killed," Mr Foxton said.

"But as my feelings and my passions cooled, I realised that what I really wanted to do was to just find out more about Madoff.

"I wanted to find out about this titanic crime he'd perpetrated and I wanted to work out exactly how my father had become entangled in all of it."

Mr Foxton found some of Madoff's victims had witnessed him in action.

Two weeks after her husband died, Norma Hill headed for the Lipstick Building, one of Manhattan's iconic skyscrapers and the home of Bernard L. Madoff Investment Securities.

Willard Foxton (l) and Norma Hill
He put his arm over my shoulder and he looked at me and he said to me, don't worry, everything is going to be fine
Norma Hill, Madoff victim

She wanted to discuss the investments her husband had made with Madoff.

"He appeared to be a really nice, kind man, sort of like anybody's grandfather.

"He put his arm over my shoulder and he looked at me and he said to me, don't worry, everything is going to be fine."

Mrs Hill believed Madoff and kept her money with him for 21 years, but now, after losing nearly all her pension and savings, she will be forced to sell her house.

Paul Allen, 89, also invested with Madoff.

Last December, just a week before the conman was arrested, Mr Allen put in a call to Madoff's offices because he was worried about the credit crunch and was thinking about cashing in his investments. He was transferred straight to the boss.

"He got on the phone immediately and he said, 'well, why are you doing this after all these years and with the success we've had?'"

Even though Madoff knew his Ponzi scheme was imploding, "he didn't sound distressed at all", Mr Allen recalled.

"He should have been on the Shakespearean stage, he's a great actor."

Mr Allen chose to stay with Madoff, and a week later his investments were wiped out.

Madoff did not just rely on his personal charm but used his social connections, particularly within New York's Jewish community, to ensnare victims - and cash.
Willard Foxton outside Madoff's Long Island house
Madoff's assets worth more than $100m (£71m) may be seized

Madoff's con hit the Florida island of Palm Beach, a winter retreat for the East Coast's millionaires and billionaires, particularly hard.

Madoff was a member of the exclusive Palm Beach Country Club, and it is thought that a third of its members invested in his Ponzi scheme.

Martin Gruss was one of the lucky ones who did not invest but he was at the club in the aftermath of Madoff's arrest.

"There were maybe a dozen people in the dining room, hardly anybody was there, and the people that were there looked like they had been hit in the face with a frying pan," he said.

Madoff was trusted by his victims partly because of his sterling reputation on Wall Street.

Alongside his fraud, he ran a legitimate share-trading business that provided the perfect cover.

Ed Nicoll, who has run several Wall Street trading companies, has known Bernie Madoff for early 30 years.

At one stage, Madoff was chairman of the giant NASDAQ stock exchange.

Mr Nicoll believes that Madoff's establishment credentials helped his fraud stay undetected for decades - right under the noses of the regulator, the Securities and Exchange Commission.

"They were very close to Bernie and they trusted Bernie," he said.
Palm Beach Country Club
A third of Palm Beach Country Club's members had invested with Madoff

"And that trust that Bernie managed to create with the Securities Exchange Commission blinded them."

Bob McMahon, is a computer expert who worked for a year at Madoff's legitimate share-trading division.

The company's offices were split across three floors of the Lipstick Building, and the fraud was run from the 17th floor, and it was rare for employees from the rest of the office to be allowed on to that floor.

But one day Mr McMahon was given access.

"It was as if 17 were a cave, the rooms were dark, there were piles of paper in boxes stacked nearly to the ceiling, and all of this old technology," he said.

The 17th floor offices housed green-screen terminals, dot-matrix printers and computers from the 1980s.

"Whenever I asked, 'one day it's going to die, what are you going to do then?', the response that I got was that it was Bernie's problem, Bernie will make that decision, we don't question it."

"Hindsight being 20-20, now we know it was a criminal enterprise."

The old technology was in fact being used to create the mountains of fake account statements that were sent to Madoff's Ponzi investors, and the computers were never upgraded.
Bob McMahon
Ex-employee Bob McMahon found an office filled with 80s computers

"This would have required outside consultants to come in, and in doing so the fraud would have been found out," Mr McMahon said.

Willard Foxton also tracked down a Madoff family friend, John Maccabee, who first met Madoff over fifty years ago.

"I never saw anything particularly special about Bernie," Mr Maccabee recalled.

"It was only in those years when he began making money that he came to life in a way."

Mr Maccabee believes he knows what turned an ordinary middle-class boy from the New York borough of Queens into the world's biggest conman.

"It's a man who was running from mediocrity and winding up like his parents.

"He wanted out of that. The middle of the middle of the middle of the middle class."

See Willard Foxton's full investigation on The Madoff Hustle, This World, BBC2 at 1900 BST on Sunday, 28 June.


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