Bernie (Madoff) Stashed His Cash Offshore

[babylonsister]

http://crooksandliars.com/node/24897

Bernie Stashed His Cash Offshore
By Susie Madrak Monday Dec 29, 2008 1:00pm


My, this just gets better and better, doesn't it?

Investigators believe that Bernard Madoff has stuffed hundreds of millions of dollars in Ponzi profits into offshore tax havens from which they could prove tricky to recover.

In the weeks since his Dec. 11 arrest, forensic accountants have been scouring Madoff's books as federal officials ready an indictment against the hated hedge-funder, who remains under house arrest in his $7 million Upper East Side penthouse.

The accountants believe Madoff regularly sent bundles of money to offshore accounts in the Caribbean and Europe, the Observer newspaper in London reported yesterday.

<...> The tax havens are designed under local laws to be nearly impervious to subpoenas or other investigative inquiries, making it notoriously tough for US officials to seize or even see what's there.

Story from here:
http://www.nypost.com/seven/12292008/news/regionalnews/bernie_cash_stash_146315.htm

[MineralMan]

1. What a revelation! Who could have thought that an

internationally-known investment guy would know he could stash his ill-gotten gains that way?

For goodness' sake! Of course he did. And so did lots of those who invested with him and lost their bucks. And so do just about every major investor. No news, this...

[leftofthedial]

2. wait! I thought he was "crazy"...

[Wapsie B]

3. Did anyone really believe otherwise?

No one thought that he'd have all that money sitting in a US bank did they?

[aquart]

4. Take him out of the house and put him in solitary.

Then trade. I have zero sympathy for his sufferings...except to notice that there haven't been any.

I suggest giving him television. And showing hour after hour of the damage he's done on a repeating loop. Have cameos from his victims. I'll bet they are willing to help out.

Oh, and bring in his kids. If the money isn't for them, who is it for? If it's for them, prosecute for receiving stolen goods. A separate count for every dollar.

[Ichingcarpenter]

5. ''In today's regulatory environment, it's virtually impossible to violate rules."

Bernard Madoff, money manager, Oct. 20, 2007

[Donnachaidh]

6. so confiscate EVERYTHING here, down to his shorts

ANYTHING that he is part-owner of, anything of value. And put his ass in a CELL, the hell with this house arrest nonsense. Leave him there for 6 months.

After the 6 months, tell him if he gives up ALL the account numbers and locations we'll consider giving him back a few perks.

Personally, I think anyone in this country that has money in offshore accounts should be immediately jailed, and kept their until all the money is accounted for. And 90% tax on any funds found.

[Sarah Ibarruri]

7. See, in a country where the poor and the rich are on a more equal footing....

the poor would grab this @-hole by the hair and drag him along 5th avenue till he screams out where he's hidden the millions he stole. But the rich control everything here and they never go to prison, they just steal from everyone and run along to live lavish little lives.

[PassingFair]

8. They need to slap that *astard into the slammer.

Let him spend his offshore money on extra sheets
and cigarettes.

[shraby]

9. Now those banks hiding that money are

deserving of a few smart bombs right into their windows. That would instantly disappear the ill gotten gains from many sources.