Forcing the accused into personal liquidation is a long honored tradition that used to be the first thing resorted to, even before the trappings of criminal procedure. What the hell happened here? Perhaps victims (and the rest of us) were too stunned to think of it before now?
A lawyer for victims of Bernard Madoff’s $65 billion Ponzi scheme is seeking to force the fraudster into personal bankruptcy to ensure that all his assets are used to pay those from he stole.
“It’s an important step to ensure that all Madoff assets are brought before the bankruptcy court to be used for victims of this massive fraud,” Jonathan Landers, a lawyer with Milberg LLP, which represents more than 70 victims, said in a phone interview.
Whatever the case it seems somewhat difficult to imagine that the recovery levels will be high. We suppose you never know, but we sort of doubt the Bernster left all that much behind.
So much for the multi-0 balance at the correctional commissary, Berno.
Madoff’s Victims Seek to Force Him Into Bankruptcy [Bloomberg]
Pissing into the wind.
Hve seen that boat “Bull” on the intercoastal in PB many times. It is gorgeous and looks like it is never used.
legal question:
Isnt the Florida house protected by Homestead law?
Saw the US Marshals swarming it on tv
is that BS/press spin for dumbshit american public?
No Weiss; Didn’t read
It’s situations like this that I wish the judicial process for which we’re famous is subverted and we can get right to the heart of the matter–recovery of assets for people who’ve been deprived of, in many cases, life savings because of this grotesque fraud.
For example, stick Bernie and his wife in a room, as well as their sons. Proceed to blow a hole through 1 each of Bernie & sons’ kneecaps. Proceed to Ruth Madoff’s leg and suggest that she’s next. Then let’s see how much of a man each of them are. After witnessing this, maybe Ruth will confess where the $ is and that she was a willing co-conspirator all these years.
Presto, game over. Plus, unold millions of $ in taxpayer money saved by not having FBI, etc. spend years trying to track down funds, tying up the courts, etc.
@5 -
No Hope, won’t Change
I want to see Ruth, Andrew, Peter, Mark and Shana standing in line waiting to sell their blood.
Isn’t Mel Weiss currently in one of the prisons that Bernie is likely to end up in?
@5: Send Jack Bauer in!
“WHo are you working for?”