 The Wild Wild World of Wealth |  |
Prosecutors says that Morris told Haley that he had come across an “exclusive investment opportunity” started by the owner of the Houston Astros. The fund was closed to new investors and was claimed to have generated 20% monthly returns for the preceding 8 years. Conveniently, Morris called Haley several days later and said one of the investors had died creating an opening.
60 Minutes: “Do you have any friends?”
Marc Dreier: “Now? It doesn’t seem so.”
Inside Edition: “It’s been reported that Madoff said, ‘Screw the victims.’ What’s your response?”
Answer in chorus: “He already did.”
Read more by clicking on the title above.
Twenty-nine Madoff victims have banded together to tell their stories. I can hardly wait to read their book which is appropriately titled: The Club No Wanted to Join—Madoff Victims in Their Own Words.
I have not seen the book. My copy has not shipped yet. But I look forward to reading about the investment experiences with Madoff and his intermediaries. I also look forward to reading what the authors report about Irving Picard, the trustee.
Click on the title above to read more, including my recipe for “Spaghetti alla Madoff.”
Just when it looked like Ponzi schemes had run their course—for the time being—we learned of another. The Daily Beast reported:
Sorry, former President Clinton: It’s not that Ken Starr. A financial adviser with the same name as Clinton’s former nemesis was arrested on Thursday for allegedly perpetrating a $30 million fraud and Ponzi scheme. Clients to Ken Starr, the chairman and CEO of Starr & Company, include Annie Leibovitz, Uma Thurman, Martin Scorsese, Wesley Snipes, and Henry Kissinger. Authorities also arrested Andy Stein, the former Manhattan borough president and New York City Council president, for lying to officials conducting the probe.
For Psychic, Suit Came as Surprise You know there’s a problem when your money manager: Claims to be today’s Nostradamus; Names his company, Magic Eight Ball Distributing; Runs a website with wellness products like “Holy Tea.” According to the SEC and The New York Times, “America’s Prophet” may be “America’s Fraud.” You can find a [...]
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