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The Madoff Twelve Part II
26 June 09 • Comments Off

Acrimoney has given further thought to Madoff’s request for leniency. Ira Sorkin, Madoff’s defense attorney, argued for a twelve-year prison sentence. He referenced Madoff’s life expectancy of thirteen years as justification.
The Madoff Twelve
23 June 09 • 10 comments

Ira Sorkin, defense attorney for Bernard Madoff, requested his client’s sentence be limited to twelve years. He cited Madoff’s age and thirteen-year life expectancy. He noted the crime was non-violent. And he added that Madoff surrendered voluntarily.
Sorkin asked the judge to avoid “mob vengeance.” In an online report, CNN Money described his legal position by writing, Madoff says 12 years is plenty. We at Acrimoney can’t help but wonder:
Do twelve years constitute justice for Bernard Madoff?
What Would Grove Do?
11 June 09 • Comments Off

On June 10, 2009, The New York Times reported that authorities are indicting seven executives for selling tax shelters. Acrimoney believes, however, the article contains broader implications for understanding investments. Even if you’ve never seen a tax shelter.
One Madoff Victim’s Response
10 June 09 • Comments Off
This is just a quick post.
One of Acrimoney’s regular readers sent this story on Franklin Sands, Florida’s minority leader in the State house. Sands lost $3 million to Madoff. The legislator is working overtime to put his finances back in order and describes his efforts in the linked article. I admire his attitude.
Madoff Leftovers
8 June 09 • 5 comments

Today, The New York Times reported a dispute between Madoff victims and the trustee. The issue is who’s eligible for SIPC payments. The article illustrated the complexity of Madoff’s tangled mess. Hence, the spaghetti metaphor. The article also described the lack of agreement and, I think, a fair solution. Hence, the references to refrigerator rot. Let’s break down the story.
Part II: The Ponzi Wives Poll
4 June 09 • 1 comment

Last week Acrimoney posted an article entitled, Part I: The Ponzi Wives Poll. We presented the following case. A woman left her husband ten years ago. She waited until 2007 to sue for divorce. As their battle played out in court, a second front emerged. In 2009 the SEC charged the husband with financial fraud.