Bankruptcy

What?s 150 Years in Prison Divided By $65 Billion?

By writer

How the U.S. Bankruptcy Information Courts Are Recovering Lost Millions

Since Bernie Madoff?s Ponzi scheme was uncovered in December 2008, unprecedented backlash was thrown at the reckless financier?truly a scoundrel of the first water. Madoff?s case seemed serendipitously timed?right when families in America were filing for personal bankruptcy, foreclosing property and left in the bitter cold during the 2k8 holiday season, they were given the priceless gift of a financial scapegoat. Americans? seething anger was more poignant when aimed at Madoff?s proven felonious acts, instead of towards thousands of misled sub-prime lenders. He didn?t default on a mortgage, he piddled away $65 billion dollars.

Bankruptcy information trustees have the Sisyphean task of recovering Madoff?s lost mattress money–Numbers within dossiers of bankruptcy information show that his relatives and associates withdrew $735 million only 90 days before the Ponzi scheme was exposed, which in investment fraud legally doesn?t belong to them. Bernie?s family and employees withdrawing such an outrageous sum of money prior to Madoff?s federal charge indicates they were privy to an F.B.I. investigation. By now hiding it in shoeboxes, they?re essentially trying to get away with murder?the very double-book keeping that Madoff was found guilty of.

Most of the financially struggling general public would never dream of throwing away $65 billion. Most of us also haven?t bit off more than we can chew with unrealistic mortgages but have had our investments tangled away from us, much like Madoff?s victims. If they ever do recover the $700 million from Madoff?s friends and families, it will fund the emergency bankruptcy of companies, not struggling individuals!

Much of the general public needs relief, now! If your investments have gone sour from the various forces beyond your control, it?s time to act fast. When your hard-earned green has been hijacked by a 70 year old criminal mastermind, it?s time to recover. Speak with a skilled Legal Helpers attorney who focuses on bankruptcy cases everyday, and start getting back on your feet right now.

Full post as published by Consumer Bankruptcy Blog from Legal Helpers on July 15, 2009 (boomark / email).