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Bernie Madoff: News Roundup


Update: TPM Muckraker is reporting there are new charges that Bernie's London operation, Madoff International Securities, Ltd., played a significant role in the fraud.   

Some news about Bernie Madoff you may have missed.

Fox News - The highlight of the week was watching  Fox News chase Bernie's former secretary, Annette Bongiorno, around the parking lot of her $1.2 million home in a "private" gated community in Boca Raton where she keeps a Bentley in her three-car garage. "Nan" was Bernie's secretary for for more than forty years and two other Madoff employees claim to have researched stock prices and generated phony trading tickets at Bongiorno's direction.  

New York Times - The Democratic Senatorial Campaign Committee returned $100,000 in contributions from Bernie to Irving Picard, the bankruptcy trustee. Senator Schumer previously returned more than $30,000 in Madoff contributions to his campaign to the trustee.

TPM Muckraker - A Nassau County judge froze the assets of Peter Madoff, Bernie's brother, in connection with a lawsuit filed by Madoff "casualty", 22-year-old Andrew Ross Samuels. According to the New York Post, Bernie  stole  Samuels' $460,000 trust fund which included a $20,000 gift from the Madoffs given at the time the trust fund was set up by his grandparents. The Wall Street Journal Legal Blog has additional information and links here.

 New York Post - Cindy Adams, famous gossip columnist, claims  Ruth Madoff was sighted shopping for junk jewelry in Boca's Via Mizner. This story follows the one about Ruth's attempt to go grocery shopping in an Upper East Side supermarket.

London Sunday Times - Earlier this week, William Nasi, Bernie's long-time personal messenger, provided some new information about Bernie the Boss including his penchant for vacuuming his office himself. The Times  interview includes new details about Bernie's father, Ralph the Plumber, who apparently believed everyone on Wall Street is a crook.

Daily Beast - A former Madoff IT employee anonymously provided  new information about the inner workings of Madoff's firm in an interview with Lucinda Franks.  The IT employee claims to have broken into a "secret" computer file accessible only to Madoff family members which contained sensitive financial information about the company.  

 


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Bernard Madoff's office in Mayfair, London 'was billion-dollar piggy bank'

Bernard Madoff used the London arm of his corrupt investment business as his personal “piggy bank”, British fraud investigators claimed yesterday.

Madoff Securities International, based in Mayfair, Central London, was “a cog in the global washing machine”, through which the jailed fraudster had laundered billions of pounds, they said.

Last year £1 billion passed from Madoff’s business in New York through one of his London firm’s accounts and then back across the Atlantic. Other London accounts were used to pay for the construction of a £5 million yacht, the Bull, which is at anchor near Antibes in the South of France.

His brother Peter Madoff, a director of the London firm, acquired an Aston Martin DB6 and, shortly before the business collapsed, $2 million was transferred to an account in the name of his wife, Ruth. The purchases were accounted for as loans and directors’ remuneration.


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Mrs Panstreppon

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