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well I suppose it’s only natural Italians would be involved in the biggest “ponzi” scheme to ever hit the US…
hahahah!
the biggest source of fund recovery for the madoff disaster is probably going to be the IRS – refund on the cap gains taxes paid on the ficticious gains
My brother taught there but not freshman courses I think.
come OT – the burg thread has more posts than you guys!
M4L he paid some of the money to early “investors” with percentage just so he can get his buddies to put in. Thus the Ponzi scheme. Regulators were looking in getting back that said “interest” that the early “investors” got and they were PIIIIIISSED!!!
Yes, one course when I was a freshman and I got a D. I was so not ready for philosophy!
m4l — I think it’s been known for a while he never made trades. That doesn’t mean the money is still there. It’s in whatever he spent it on — yachts, real estate, high end vacations, summer homes, jewelry for the Mrs., and other expenses typical of the larded up lifestyles of the rich and famous, with presumably some thrown around to those who helped. Also perhaps offshore. I am not up to date on recovery efforts. He probably kept enough liquid to cover expected withdrawals, but not the unexpected.
He’s not out. He’s in protective custody. Ms. Bongiourno was the secretary. I don’t know what Di Pascali’s connection to Bay Ridge is. They two of them were born in Queens and he lives in NJ now, but maybe that’s enough. 🙂
bxgrl & rf – Did you take any philosophy at SUNY-B?