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Old 02-09-2009, 01:15 PM
 
504 posts, read 902,283 times
Reputation: 155

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NEW YORK (Reuters) - Accused Wall Street swindler Bernard Madoff has agreed to a proposed partial judgment in a civil case brought by the U.S. Securities and Exchange Commission without admitting or denying fraud charges, the regulator said on Monday.

Madoff agrees to partial civil judgment in SEC case | Reuters

In other words the SEC, embarrassed by having let Bernie get away with a $50 billion swindle, has cut him a deal so sweet he will go along with it just so the story goes away.
Now, neither Bernie nor his attorneys would agree to a settlement without knowing what that settlement will be, so this bit about "to be decided at a later time" means that the SEC does not want YOU to know the sweet deal Bernie got.
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Old 02-09-2009, 01:18 PM
 
Location: Santa Monica
4,714 posts, read 8,460,378 times
Reputation: 1052
This prosecution is really starting to smell up the place.

How does anyone know that Madoff's son isn't in on the fraud?

How can the Feds make a prosecution based only on what the son heard?

WHERE'S THE MONEY? Has anyone found the key transactions that indicate where the money went?

There have been previous news reports that Madoff never made any actual stock trades in support of his stock funds. WHERE'S THE MONEY?

If the Feds haven't found specifically where the money went, they have NO BUSINESS making any final dispensation on this prosecution!

Last edited by ParkTwain; 02-09-2009 at 01:49 PM..
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Old 02-11-2009, 03:15 PM
 
Location: Earth
24,620 posts, read 28,277,661 times
Reputation: 11416
Here's a link to Ackerman's Attack on SEC

Very interesting.
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Old 02-11-2009, 05:55 PM
 
Location: Brooklyn
40,050 posts, read 34,597,244 times
Reputation: 10616
The best possible punishment for Madoff is to let him walk out of the courtroom of his own accord. Justice will almost certainly be administered shortly, and will require no expenditure of tax dollars.
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