22-12-2008, 02:24 PM
I was wrong. Madoff won't be flayed alive, it'll be kid gloves for Bernie and a comfortable retirement of endless weekends.
I got this from the blog of former EF memeber Sid Walker and, unfortunately, it seems to ring true.
A commentator named Muhammad Rafeeq suggests the reason Madoff has pleaded guilty to fraud is to enable the wealthy Jewish investors in his enterprises to recoup the losses via the US Government fraud recovery legislation. If it's not fraud then you can't recoup any losses. According to Rafeeq, US tax authorities have already indicated that in such a case of fraud the losses may be offset against existing tax liabilities.
In any case, had Madoff chosen to fight fraud charges in court, then it would be have been tough because........most of the records are missing!!
Chortle.
The schmucks pay again.
http://www.sunniforum.com/forum/showthread.php?t=41361
I got this from the blog of former EF memeber Sid Walker and, unfortunately, it seems to ring true.
A commentator named Muhammad Rafeeq suggests the reason Madoff has pleaded guilty to fraud is to enable the wealthy Jewish investors in his enterprises to recoup the losses via the US Government fraud recovery legislation. If it's not fraud then you can't recoup any losses. According to Rafeeq, US tax authorities have already indicated that in such a case of fraud the losses may be offset against existing tax liabilities.
In any case, had Madoff chosen to fight fraud charges in court, then it would be have been tough because........most of the records are missing!!
Chortle.
The schmucks pay again.
http://www.sunniforum.com/forum/showthread.php?t=41361