Madoff's house arrest is easy living
Filed under: Budgets, Debt, Ripoffs and Scams, Wealth, Fraud, Bankruptcy
The feds aren't happy about it nor are the folks who lost billions in Madoff's financial scheme, but he is presently sitting in his exclusive $7 million apartment in Manhattan.
I don't know what $7 million buys in Manhattan but I am sure that it is better than the standard jail cell. Madoff and his wife also violated a court order regarding their assets by mailing to relatives a diamond necklace, 13 watches, an emerald ring, two sets of cuff links and a diamond bracelet. Madoff's lawyer argued that he "simply did not realize" that sending personal items would contravene the court order freezing his assets.
Oh, come on. He either thinks; a) everyone is really stupid or b) he is simply above the law. I would take a guess that the correct answer is (B). After all, he has done pretty much what he wanted for years. He was able to fool government agencies, skilled investors and the general public for most of his career.
I have seen this behavior before; with CEO's, business partners and colleagues. They start to believe in their own omnipotence and power. They often confuse their money with other people's money and feel they have a right to do what ever they want.
I previously was co-owner of a large managed care company. The principle share holder hid financial statements, wouldn't disclose his salary, and walked away with most of the assets. He simply viewed the company as "his" in spite of the fact that there were other owners. He did what he wanted regardless of how others felt.
Maddoff has done much the same thing but on a larger scale. Now he wants to continue his lifestyle while his actions have affected many lives and charitable organizations. Personally, I think his new digs should be a small cell. Stay tuned to see what happens.
Barbara Bartlein is a relationship expert. To learn how to build your relationships, please visit: Relationship Tips
Reader Comments (Page 1 of 1)
1-22-2009 @ 10:10PM
Donna Keiser said...
"He who lives to benefit himself confers on the world a benefit when he dies." Tertullian
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1-25-2009 @ 10:42PM
max hemmert said...
I have to agree with Barbara's take on Madoff. Claiming to have acted alone while millions in checks for relatives sit on his desk. Why is this guy not in the slammer?
Message to Wall Street; wealthy criminals need not suffer the indignities of jail.
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1-23-2009 @ 7:47AM
iphonerulez said...
Madoff is one of the few kings in all of humanity. I'm sure he thinks that everyone else is stupid and he is right. Most of the losers and chumps he conned were stupid. Stupid and greedy. That consists of 95% of the world at large. He's up there in his fine-looking penthouse, looking down from his parapet and laughing his ass off right now. He's very fortunate to have himself isolated from the stench of losers.
Well, he was put on this earth for a purpose and his purpose was to hoard huge amounts of cash and to teach other people a lesson. You just can't trust other humans when it comes to money. They'll screw their family, friends and enemies just to accumulate a few more bucks. Sure Madoff, the same people that loved you when you were making money for them, now hate you for stealing money from them. You were their god. Now they're jealous of you. They hate you because they're not in your shoes, sucking back caviar and fine wine. I envy you that you don't have a conscience. That crap gets in the way of making big bucks. Making you feel guilty when you're deceitful to others.
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1-23-2009 @ 8:00AM
Lynn said...
What about the judge (or whomever) allowed him to stay in his luxury apartment instead of a regular jail cell? Shouldn't they have to answer for letting him stay home, enjoying his wealthy lifestyle that he stole from others? A thief is a thief, whether rich or poor. At least the poor usually have a legitimate reason to steal. People in my area of the U.S., especially if they are a flight risk, have to stay in the county jails until their court dates. Some have families, with small children that need their help at this time of winter and especially with the economy in the shambles it is in.
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1-23-2009 @ 8:49AM
DENNIS said...
OUR JUDICIAL SYSTEM JUST SET ANOTHER FUPA,PUT HIM "MADOFF" IN JAIL THIS IS WHERE HE BELONGS,NO SPECIAL TREATMENT , IF IT WERE ONE OF THE NINTY NINE PERCENT LEFT IN THE UNITED STATES ,WHERE WOULD THIS PERSON BE RIGHT NOW? AT HOME UNDER HOUSE ARREST? I DON'T THINK SO ! THE DOUBLE STANDARD DOESN,T WORK," MADOFF ", MADE OFF WITH BILLIONS AS WELL WITH OUR JUDUICIAL SYSTEM. PUT HIM AWAY!
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1-28-2009 @ 11:43AM
jack said...
His day is coming. Remember Leona Helmsley, she thought that "only small people paid taxes" . They showed her. They also got Martha Stewart. And poor old Ken Lay, he had a fatal heart attack before he went to jail after having been convicted. It is just a matter of time before Madoff gets "his".
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