Would be a great story/movie. The guy who wrote Ugly Americans and Bringing Down the House could write it and Jack Nicholson could play Madoff.
I'm sure he knew once he told them it was only a matter of time and would give them cover with the Feds by turning him in. He wouldn't have told them (assuming they weren't already in on it) if he really wanted to run in the first place.
letting his sons turn him in, admitting to it, then bugging out may have been a plan to clear his sons when the smoke alarm went off con artists usually dont really 'come clean' i suspect his motives for admitted what he did
Shitstorm is right. This is just the beginning. When money becomes peoples' master, you begin to see the fruit of such a disaster.
this storm in 2008 is what broke Madoff's 20 year ponzi scheme the crash in 1987 and 2002 didn't break his ponzi scheme. market rally quickly after two major market meltdowns. this slow crash and non-stop redemptions in october and november and december broke his ponzi scheme. even in 2002 the mega selloff ended after Nov. an a new bull market was after 2002 october.
I bet the money is in a offshore numbered account and his sons will have access to a special package with instructions on how to access it. Madoff figures he is 70 and he could do the white collar golf park prison and is willing to take all the blame.
they'd have to very carefully pick a place to snip it off, or "collar" it with a radio blocking wrap but doable remember, this is a case where a guy had almost unlimited means for a plan B most people dont, and would exhaust funds quickly i just cant believe aq guy would steal that much, then have no interest in using what he gained to 'make his own luck' when things got hot about the only thing all that surplus stolen money could really do for him