For those who are interested in my previous posts regarding Madoff and clawbacks against charities (check out Madoff posts) , here are some interesting articles about this now old story.
This first article is really interesting – about how lawyers on behalf of net-winners from Madoff’s scheme are fighting to be treated as victims! It’s hard not to feel sorry for them but how could you take away recovered funds from the net-losers of the fraud!
What is interesting about this next article, is that it is only in the 5th paragraph that it mentions a side point that Madoff stole $325 million from a friend as executor of his estate.
Who would have thought that a little theft of $325 million wouldn’t get much prominence? Well, I guess if you are in the business of stealing billions, what’s another few hundred million?
The real irony is that Madoff was only stealing back false profits from his own fraud, presumably to keep the fraud going a little further. Apparently family of the deceased friend didn’t disagree (they settled with Picard).