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Old Dec 13th, 2008, 12:15 AM   #79
lemeeeplay
 
 
Join Date: Oct 2008
Posts: 754
Quote:
Quote from trademonster:

I've heard that SEC is going to shut down Madoff financial and all of their hedge funds for SEC violations. Can anyone confirm this?
All I can say is WOW. This makes me question the motivation of the original poster that started this thread 3 years ago.

I bet the poster was either a whistle blower or someone trying to create a paper trail, like in a crime thriller. Here is how I see it: the protagonist was being followed and stalked in Switzerland by men in blacks (hired by Madoff), for having inside knowledge and decided to create a paper trail in case they whacked him.

But seriously, I hope trademonster is okay.
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Old Dec 13th, 2008, 07:06 PM   #80
bdiego
 
 
Join Date: Dec 2008
Posts: 17
Look, the OP had good info but he was 6 years late. People have been calling out Madoff for 9 years and people ignored this the same way they ignored the OP.

I'll quote page A7 of the Weekend Edition of the Wall Street Journal today Dec 13-14).

"Mr. Markopolos, who years ago worked for a rival firm, researched the strategy and was convinced the results likely weren't real. 'Madoff Securities is the world's largest Ponzi scheme', Mr. Markopolos wrote in a letter to the SEC." THAT WAS IN 1999.

"Mr. Markopolos pursued his accusations over the past nine years [with the SEC]" The WSJ has reviewed these documents, and the SEC had no comment.

Like OP this is my very first post. But go out and buy the WSJ or look at wsj.com if you don't believe this.
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Old Dec 13th, 2008, 07:12 PM   #81
trendlover
 
 
Join Date: Nov 2007
Posts: 3,867
Quote:
Quote from bdiego:

Look, the OP had good info but he was 6 years late. People have been calling out Madoff for 9 years and people ignored this the same way they ignored the OP.

I'll quote page A7 of the Weekend Edition of the Wall Street Journal today Dec 13-14).

"Mr. Markopolos, who years ago worked for a rival firm, researched the strategy and was convinced the results likely weren't real. 'Madoff Securities is the world's largest Ponzi scheme', Mr. Markopolos wrote in a letter to the SEC." THAT WAS IN 1999.

"Mr. Markopolos pursued his accusations over the past nine years [with the SEC]" The WSJ has reviewed these documents, and the SEC had no comment.

Like OP this is my very first post. But go out and buy the WSJ or look at wsj.com if you don't believe this.



Hmm, maybe op is Mr. Markopolos?
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Old Dec 13th, 2008, 07:24 PM   #82
bdiego
 
 
Join Date: Dec 2008
Posts: 17
Quote:
Quote from trendlover:

Hmm, maybe op is Mr. Markopolos?
Whoever he was, my honest guess at his motivation was he wanted people to take a closer look and stop handing their money to Madoff. If I knew this info, I'd have done the same. The same way if you see an accident, you stop and help.

Even Madoff wanted it to stop - most fraudsters drag it out to the very end and deny it to their death. But the sooner you stop it, the less money everybody loses. That's the nature of a pyramid scheme.
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Old Dec 13th, 2008, 07:32 PM   #83
traderpro
 
 
Join Date: Feb 2003
Posts: 641
Quote:
Quote from lemeeeplay:

All I can say is WOW. This makes me question the motivation of the original poster that started this thread 3 years ago.

I bet the poster was either a whistle blower or someone trying to create a paper trail, like in a crime thriller. Here is how I see it: the protagonist was being followed and stalked in Switzerland by men in blacks (hired by Madoff), for having inside knowledge and decided to create a paper trail in case they whacked him.

But seriously, I hope trademonster is okay.

If he did blow the whistle he sure did open a can of worms. The sec didn't regulate the hedge funds but you can be sure they will now. The off shore funds and all. I wonder how this will affect the llc structure who went with the hedge fund format.
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Old Dec 14th, 2008, 04:40 AM   #84
trademonster
 
 
Join Date: Jul 2005
Posts: 7
Quote:
Quote from lemeeeplay:

All I can say is WOW. This makes me question the motivation of the original poster that started this thread 3 years ago.

I bet the poster was either a whistle blower or someone trying to create a paper trail, like in a crime thriller. Here is how I see it: the protagonist was being followed and stalked in Switzerland by men in blacks (hired by Madoff), for having inside knowledge and decided to create a paper trail in case they whacked him.

But seriously, I hope trademonster is okay.
I am NOT a whistleblower or trying to create a paper trail. I actually had some significant money invested with Madoff when I heard this rumor. I was just concerned and I wanted to see if other people knew about the investigation. Fortunately, I got all my money out of Madoff in 2006. Madoff and his people at first refused to return the money and eventually became very rude in doing so.

Well, for all those who insulted me on this thread, you can kiss my A** and I told you so.
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