Monday, March 9, 2009


Madoff plea may lead to incrimination of others

Newsday — Wall Street pariah Bernard Madoff is set to leave his midtown penthouse twice this week, get into a vehicle accompanied by security guards and be driven downtown to federal court.
Madoff, 70, who has been under house arrest since December, should enjoy those chauffeured tours while he can. For Madoff, time as a free man, relatively speaking, is running out.
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Madoff's wife withdrew $15.5M before his arrest

CNN — The wife of accused swindler Bernard Madoff pulled $15.5 million out of a Madoff-related brokerage firm in Massachusetts in the weeks before his arrest, authorities there disclosed Wednesday.
The withdrawals by Ruth Madoff took place in November and December, according to a complaint filed by state regulators against Cohmad Securities, a firm they said was "intertwined" with Madoff's New York-based company.
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Bernard Madoff to Face New Charges, May Be Nearing Plea Deal

Bloomberg — Bernard Madoff, the alleged mastermind of a $50 billion Ponzi scheme, may be nearing a guilty plea after federal prosecutors filed a notice that they intend to bring new criminal charges against the New York money manager. Assistant U.S. Attorney Marc Litt yesterday filed a one-page document in Manhattan federal court indicating the government will file an “information,” or charging document, after Madoff agrees to waive a grand jury indictment. Defendants who agree to plead guilty to an information often first waive indictment.
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