Wednesday, July 1, 2009

Are these signs of getting serious?

In the last couple of days, decisions made on fraud cases suggest a message is being put out there - that these massive cloaked fraud schemes, whatever their colour - are unacceptable and deserve serious attention. Mr. Madoff is off to federal pen for the rest of his life. There were over a hundred victim statement letters. These letters from Madoff Victims are believe to have Influenced the Sentencing. Though it will be interesting which institution he ends up in. 150 years. A little meaningless in some senses but still maybe a message. I guess unless he ends up in some minimum security club fed? I suppose one even might say that Ruthie did her thing by giving up the ten's of millions in property and cash. I am not sure I understand how she still gets to keep $2.5M - she is the one that tried to mail jewellery etc. just before Christmas, and transfered much cash around. Then Sir Allen Stanford is refused bail and ordered to stay behind bars . He actually was able to collect the bail cash but the court blocked the move. This story says if convicted he will face 250 years! And since this is the man that has a $200M unpaid tax bill, why would we be surprised with the proceeds of office furnishing sales to go to the building owner for unpaid rent? He might be rated some 205th on the Forbes list, but he still doesn't pay his bills! Staggering what our world has come to.

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