Madoff investor commits suicide in New York

[jd7419]

Quote from swtrader:

"Well, why did he turn himself in if he has some elaborate escape plan now?"

did he?

i thought his sons turned him in

anyway, the transition from big shot to luxury fugative might not alwyas be a smooth one

but i still say he runs

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.

 

[flytiger]

Quote from jd7419:

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.

Richard Dreyfus. Or maybe Paul Newman. Madoff is just as dead.

 

[brocklanders]

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.

 

[swtrader]

Quote from brocklanders:

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

 

[ByLoSellHi]

Shitstorm is right.

This is just the beginning.


When money becomes peoples' master, you begin to see the fruit of such a disaster.

 

[tradersboredom]

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.

Quote from ipatent:

With the $hit$torm that is coming Madoff will be yesterday's news before long.

 

[KINGOFSHORTS]

Quote from swtrader:

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

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.

 

[IndexSwing]

Quote from swtrader:

into a restroom

down a hole into a storm sewer

up into a delivery truck parked over a manhole, into a 55 gal drum

then anywhere into a maze of the most complex luxury fugative life ever - does anyone think this guy wouldnt have a "PLAN B" with incredible disguises, identities, locations, properties, numbered accounts all over the world? a fragmented plan where no one else knows more than 10 percent of it- or would that be TOO DISHONEST for him?

anyone see the smirks on his face? he'd ENJOY it!

there's vacation properties all over the place, time shared much of the time. if he had a bunch of these created (years ago) with different disguises, under different aliases, like in 'shawshank redemption', who'd know when he shows up and assumes the identities, for short periods of time? the world, including the USA is an incredibly corrupt place - pay one installment of blackmail when a location or situation gets 'hot', then bugout down another rabbit hole, off to the next local and identity

witness protection program-like life of the rich and famous

anyone who thinks that a creater of a scheme like this wouldnt have a back door out is nuts

he has everything to gain, and nothing to lose by running

Wouldn't he have to remove the ankle bracelet first?

 

[marketsurfer]

Quote from IndexSwing:

Wouldn't he have to remove the ankle bracelet first?

good point.

these guys live in elaborate fantasy land.

too much james bond as a child, i suppose.

 

[swtrader]

Quote from IndexSwing:

Wouldn't he have to remove the ankle bracelet first?

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