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View Full Version : Where are the Madoff billions?



itshappening
11-13-2009, 12:19 PM
http://news.bbc.co.uk/1/hi/business/8355471.stm

his personal items worth $500k

Investigators have identified 10% of the money


they said it was a $100bn scheme, something doesn't add up. I wonder where the money is stashed or who has it ?
silverhandorder
11-13-2009, 12:41 PM
Um he was paying it out to people too...
lester1/2jr
11-13-2009, 12:50 PM
I'm reading this book that is a verbal history of wall street. it has several actually rather informative quotes from madoff about the founding of nasdaq.
Mitt Romneys sideburns
11-13-2009, 02:01 PM
He has been collecting it for decades. So hes also had decades to spend it.
revolutionisnow
11-13-2009, 02:14 PM
He has been collecting it for decades. So hes also had decades to spend it.

Spending Billions of dollars, yet no material goods to show for it? A few million maybe, but not billions. That kind of money does not just disappear.
steph3n
11-13-2009, 02:36 PM
It did not disappear, he paid it out to clients on a regular basis, he did them good that is why they kept 'investing'!
BlackTerrel
11-13-2009, 06:52 PM
It did not disappear, he paid it out to clients on a regular basis, he did them good that is why they kept 'investing'!

Not just that. Say you give me 5 million - now I tell you I invested it and it is worth 10 million. But really the investment went down to 3 million, plus I spent some. So when it goes belly up you say you lost 10 million. But that money never existed to begin with.
steph3n
11-15-2009, 08:31 AM
Not just that. Say you give me 5 million - now I tell you I invested it and it is worth 10 million. But really the investment went down to 3 million, plus I spent some. So when it goes belly up you say you lost 10 million. But that money never existed to begin with.

Just like the feds and the social security system!
tonesforjonesbones
11-15-2009, 08:51 AM
Israeli Banks. tones
BlackTerrel
11-15-2009, 07:23 PM
Just like the feds and the social security system!

Pretty much.
WClint
11-15-2009, 07:29 PM
Israeli Banks. tones

;)
Liberty Star
11-15-2009, 11:29 PM
Israeli Banks. tones



There should be an investiagtion of their banks.
AdamT
11-16-2009, 12:03 AM
I'm sure most was eaten by the state.
BlackTerrel
11-16-2009, 01:24 AM
There should be an investiagtion of their banks.

Based on what evidence?