More Madoff Disaster – HOLY SHIT

They are going to try and get the money back!!!

Madoff Victims May Have to Return 6 Years of Profits, Principal

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One Response to More Madoff Disaster – HOLY SHIT

  1. terry chay says:

    I think the lawsuit actually has a chance of succeeding. My guess is that everyone would get an equal part of assets back equivalent to a fraction of their total investment. This means some of the people who did well by withdrawing early would have to return some of their assets.

    In particular, sine 2005, money was taken from new investors to pay “dividends” to this “Florida investor” for cashing out. That’s the very definition of a Ponzi scheme.

    A similar deal was eventually worked out in the 90’s on the New Era Ponzi scheme.

    As for “Profits, Principal” in the title: the reality is Madoff’s company was a fraudulent scheme there are no profits and it’s ALL principal.

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