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New York - Investigators: At Time Of Arrest Madof 'Der Ganef' Stashed $173m Cheques for Associates |
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The detail was provided in a court filing as prosecutors argued that Mr Madoff should have his bail revoked and be sent to jail.
He is accused of running a fraudulent $50bn scheme, which saw heavy losses for many investors around the world.
Mr Madoff is currently under house arrest in his New York penthouse.
Bail arguments
His $10m bail is covered by that home as well as his houses in Long Island and Florida. A parallel civil case has also seen his assets frozen.
The cheques were further evidence that Mr Madoff wanted to keep his assets away from his investors, prosecutors told the court on Thursday.
He was also accused of sending more than $1m worth of jewellery to friends and family over the Christmas holidays.
Investigators previously have said that Mr Madoff planned on distributing more than $200m to his closest friends and family after he realised his scheme had unravelled.
US prosecutors allege that a bogus business, run by the former Nasdaq stock market chairman, involved existing investors' returns being funded by cash from new investors - a fraud known as a Ponzi scheme.
His defence lawyers have argued that he is not likely to flee or is a danger to community, and therefore should remain free on bail.
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Read Comments (11) — Post Yours »
1
Jan 08, 2009 at 02:18 PM Madof's bail, is it's self a Ponzi Scam and is composed of Ponzi Money Says:
What a Joke!
His entire Bail he put up is like no Bail at ll.
Because since he was only a full fledged swindler and he never earned a Kosher Cent in his life and all his assets are subject to to be forfeited, to be given back to those whom he had cheated and alos subject to be confiscated by the government for fines against him.
If and when his property is confiscated from him, it would not even be enough to cover 1% of the fines he is subject to and not even enough to cover 1% of the money he stole.
So Madof has absolutely nothing to loose if he forfeits bail because the Bail Property is not his to keep anyway and he will never enjoy 1 cent of it anyway EVER so why should he care if he RUNS and looses this bail?
In fact Madof put up nothing at all for "bail".
Madof's bail, is it's self a Ponzi Scam and is composed of Ponzi Money.
2
Jan 08, 2009 at 01:51 PM Anonymous Says:
“He was also accused of sending more than $1m worth of jewellery to friends and family over the Christmas holidays.”
Now I am really mad. How low can one fall? A Jew sending presents to friends and family over the goyishe thing?
3
Jan 08, 2009 at 02:41 PM Anonymous Says:
“ “He was also accused of sending more than $1m worth of jewellery to friends and family over the Christmas holidays.”
Now I am really mad. How low can one fall? A Jew sending presents to friends and family over the goyishe thing? ”
That's even worse than the fact that he ate pork sausages! Gevalt!!!
4
Jan 08, 2009 at 02:40 PM madoff is king of the ponzi Says:
listen for one million worth of Jewelery ich bin moichel whatever you call the holiday. to me its a Yom tov shaini mit gantz halel.
5
Jan 08, 2009 at 03:09 PM Anonymous Says:
“ “He was also accused of sending more than $1m worth of jewellery to friends and family over the Christmas holidays.”
Now I am really mad. How low can one fall? A Jew sending presents to friends and family over the goyishe thing? ”
keep in mind that xmas was during Chanuka...
6
Jan 08, 2009 at 03:15 PM Anonymous Says:
why does bernie get to stay at home and rubashkin must be in jail?
wheres justice in this?
7
Jan 08, 2009 at 03:25 PM respectful Says:
he is a good employer thinking of his employees. show him the respect he deserves.
8
Jan 08, 2009 at 04:28 PM Rodney Dangerfield Says:
“ he is a good employer thinking of his employees. show him the respect he deserves. ”
Respect! Throw shoes at him, Put an apple in his mouth, he is a roast suckling pig! Did you see that battleaxe of a wife he has, next thing we will discover is that he has been "spitzering". Don't worry , his wife will still Respect him.
9
Jan 08, 2009 at 04:42 PM Anonymous Says:
“ he is a good employer thinking of his employees. show him the respect he deserves. ”
Good employer thinking of his employees. By paying them many more times their annual salary out of money that was stolen.
10
Jan 08, 2009 at 09:26 PM es vet ac gornisht helfen Says:
Simple his luck ran out he had a 48 year run his attorneys say he is not guilty he will pay every body back till the last penny just give him one more chance you can send the check to the new madoff fund never give up
11
Jan 08, 2009 at 09:27 PM es vet ac gornisht helfen Says:
Simple his luck ran out he had a 48 year run his attorneys say he is not guilty he will pay every body back till the last penny just give him one more chance you can send the check to the new madoff fund never give up