Saturday, 18 December 2010

50% of all participants in Madoff's Ponzi scheme made an overall profit

The billionaire bosses of the 'Amway' mob, and their criminal associates, capitulated in the recent Pokorny RICO lawsuit, and agreed to a settlement which will cost them $155 millions, because they knew that, if the case went to trial, they would be convicted of racketeering and their long-running, abusive game of make-believe would soon be over.
In the adult world of quantifiable reality, the percentage of persons who have lawfully received an overall material benefit from participating in the so-called 'Amway MLM Business Opportunity' (out of all the tens of millions who have been churned through it during the previous 50+ years) has been effectively zero. Of the comparatively-tiny percentage of grinning 'Amway Diamond' schills who have appeared to have benefited-massively, the main source of their illegal profits has not been the so-called 'Amway Business,' it has been a related advance fee fraud (a.k.a. 'tool scam'). Indeed, Bernie Madoff's closed-market swindle had, in comparison, an enormous percentage of fake 'winners' amongst its participants.
According to Iving H. Picard, the Trustee in Bankruptcy for the so-called investment company arbitrarily and falsely defined by its instigator, Bernie Madoff, as 'Bernard L. Madoff Investment Securities LLP', approximately 50% of all the persons who gave their authentic cash to this fake company (during several decades) received an overall material benefit in return. However, as Irving H. Picard is fully-aware, the real source of all these so-called 'profits' (regularly paid out by Bernie Madoff) was not, as he steadfastly pretended, from his miraculous dealings on the stock market, but actually from the latest participants in his closed-market Ponzi scheme. In other words, whether they knew it or not, all Madoff's 'winners' were in receipt of stolen funds.
One of Madoff's (apparently innocent) schills, Jeffry Picower, received more than $7 billions stolen from other participants. His widow has just agreed to pay every stolen cent back to Madoff's victims via the Trustee for 'BLMIS' and the US government.
Bernie Madoff's Brother, Peter, has so far refused to pay back voluntarily his own fake 'winnings' from the fraud. He claims to have been completely unaware that his brother was a crook. However, according to the Trustee in bankruptcy, one year Peter Madoff invested only $14 (forteen) and received around $30 (thirty) millions stolen from the victims.
Peter Madoff is evidently almost as big a liar as his narcissistic brother. Fortunately, there is a very strong probability that he will also be bankrupted and jailed.
David Brear (copyright 2010)

1 comment:

Joecool said...

50% of those in a Ponzi scheme made a profit? That makes it a better opportunity than Amway?