Monday, March 23, 2009

Madoff Case - You Have To Read About This Mess-Up

I have followed the Madoff case with a growning sense of anger at regulators and the very people who should have protected investors. I went to the CNBC site recently for an update and found a section that detailed letters having being submitted from victims who wanted to be heard at the meetings.

Now you would have thought that that Department Of Justice, The SEC and everybody else involved would be on the ball now, afraid to let the slightest thing pass without scrutiny. The slightest slip in the investigation, an oversight from some investigating officer or a miniture mistake could through more egg on the faces of embarrassed government officials.

Couldn't happen right? Too much at stake right?


Have a look at this link before it gets taken down.
Go to page thirty six. You will see an email that has been included in the heart rendering responses from Madoff Victims. That email goes something like this:

"My Name is ********* but my origins are from the Republic of Congo. I have inherited fund I want to invest in a business in your country....

Beggining to sound familiar?

It goes on:

"If you can assist, I am willing to give you 10% of the funds that is US$3.5 Million......"

Yes, you guessed it. On court submitted documents on the headed paper of the Department of Jutsice, someone, somewhere submitted a Nigeria scam email to the Judge in the Madoff case. Now, I don't know about you, but is this not indicative of the whole mess? A scam letter, submitted to a Judge in the case of the biggest scamster in history.

Surely they have people looking over these documents. Highly paid and highly skilled regulatory bodies and lawyers scouring every detail? If this evidence is anything to go by, is it any wonder Madoff got away with it for years?

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