Court hearing on Tuesday will decide ...

Court hearing on Tuesday will decide if trustee liquidating Mad...

There are 14 comments on the Newsday story from Dec 29, 2008, titled Court hearing on Tuesday will decide if trustee liquidating Mad.... In it, Newsday reports that:

A trustee presiding over the liquidation of Bernard Madoff 's investment firm says he plans to spend $28.1 million on employee salaries and other costs.

Join the discussion below, or Read more at Newsday.

Robert Fallah

Brooklyn, NY

#1 Dec 29, 2008
The real question is how long the fraud was going on for, how his sons are involved and who else is/was involved. Mr. Madoff didnt do this alone.
Get Real

Cary, IL

#2 Jan 5, 2009
This guy is going to jump bail as quick as he can. Put him in jail for safe keeping.
True Believer

Hinsdale, IL

#3 Jan 5, 2009
Knock over a gas station and get no bail and three to five after a swift trial. But steal $50B and go to your $9 million dollar penthouse apartment for a lengthy stay while you send all the loot to your family and friends vacationing in Florida. Man, it must be nice!
common sense

Norfolk, VA

#4 Jan 5, 2009
lets see, i have 10million dollars just lying around so let me give it to one man to invest. and he ripped me off. darn him. ohhh im so mad. can i get my money back please i wont tell

“CommonSense for the CommonGood”

Since: Mar 07

East Hampton, CT

#5 Jan 5, 2009
The magnitude of this crime is so overwhelming that the human mind has a difficult time grasping its magnitude.

If the perpetrator of a white collar crime who embezzled $500,000 (half a million dollars) got a light sentence of 2 years in prison, based on those light sentencing guidelines, Madoff would spend 200,000 years in prison! If he lives to be 110 years old, he would be serving less than a thousandth of his sentence.

There is no punishment equal to the damage that this man has inflicted on those foundations and individuals who trusted their assets with him. The indirect suffering that will result for billions of people worldwide who will no longer have philanthropic organizations helping them to survive is incalculatable.

In China, everyone associated with this scheme would have been executed. What is the appropriate punishment in our society?

Chesterfield, MO

#6 Jan 6, 2009
Foveator wrote:
What is the appropriate punishment in our society?
The appropriate punishment would be that justice be done. This "person" should be in jail right now and not in his pleasure palace further hiding his assets. The handling of this case so far makes a mockery of our judicial system. I think a sentence that keeps him in jail the rest of his life just might take the smirk off his face.
Disgusted in Chicago

Chicago, IL

#7 Jan 12, 2009
Well, I hope at least this time, he pinky swore he wouldn't try to get rid of any more of his assets.

“Cake or Death?”

Since: Dec 08

Palm Beach

#8 Jan 12, 2009

"Madoff admitted in this conversation that the firm was insolvent and had been for years, and that he estimated the losses from this fraud were at least $50 billion."

At least $50b... the number being floated is north of $100b..

and he is free on bail?$10m in bail? where did he get the $10m in bail money from...

I could go on but I am sure everyone gets the point of the stolen monies paying for his bail..

Chicago, IL

#9 Jan 12, 2009
For what Madoff's done, we shouldn't hope that he be immediately incarcerated. We should hope that he moves to Illinois so that we can appoint him governor. Instead of Lotto, the state could really benefit from a good Ponzi scheme.

Reston, VA

#10 Jan 14, 2009
This piece of garbage is a flight risk. He was transferring assets to be used once he flew the coop.
Common Sense

Raleigh, NC

#11 Jan 14, 2009
Most of the early investors did not loose money, just paper profits that they never really had. Yes if they knew that this was a fraud they could have invested elsewhere, but the profit still would not have existed.

Some people say the profit that they received exceeded 20% a year. Many every year withdrew as much as they had initially deposited.

Madoff's wife and family will get to keep "their" part of the profits. The family was well paid over the years and the family also should have to suffer the losses that this caused. How can Mr. Madoff's wife have all her assets if they did not come from her husband? Her assets are being used to pay for the security so he can stay in his apartment. The judge needs to get an inventory of all the families assets, not just Mr. Madoff's.

Downers Grove, IL

#12 Jan 14, 2009
Of course Bernster should walk around free on bail...we let the killer of Jennifer Hudson's Family out on bail (attempted murder) too....

The bail amount is what is wrong in both cases.....

Bernster and the Fro-head should have posted both testicles. as collateral.
Mike Jacobs

Maspeth, NY

#13 Jan 24, 2009
Beware Robert Fallah, see above.
He's a con man... Stealing money by getting appointed to worthless companies, getting paid in shares of the company; pumping up the stock with doctored documents, and his fancy talk, then dumping the stock before everyone else figures it out. Most of the money he puts in his families name, like his Lisa Fallah.
The comments you see all over the internet are his attempt to hide being barred from trading stocks, and the various suits by past investors.
Julie Forman

New York, NY

#14 Feb 9, 2012
Robert Fallah ruined my life. I went to work for his company SpiderFuel. It was a scam. It's my opinion he pocketed most of the investment money, and I'm guessing it's in some overseas banks. The company pay the government any of the taxes they withheld, or the city taxes, or unemployment. Stay away from Robert Fallah.

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