[PapaBear3625]

This still smells rotten to me. Think about it, a 70-year old man sets up his sons and probably every other living relative he has for life. He lives a life of luxury for the majority of his adult life then, as things start to unravel, he “confesses” to his sons who then turn him in. He is the only one to take a fall and everyone else does fine.

I wonder how his health is. It may be the case that he doesn't plan on being around by the time the trial finishes being dragged out.

I'm also wondering if his investors really lost money, or whether this was an elaborate laundering scheme to get money offshore (the IRS now taxes you on large money transfers out of the US)

[ldish]

exactly and his sons are in on it too and have stashed a bunch of it and a nice cover story to protect them

[CutePuppy]

I'm also wondering if his investors really lost money, or whether this was an elaborate laundering scheme to get money offshore

You are not wondering alone. See links to posts by FReeper Liz on another thread, at post #32 - http://www.freerepublic.com/focus/news/2148724/posts?page=32#32

Also, some of the money may have found its way to Obama campaign, with all the untraceable "small" donations. In many ways it would not be much different from money laundering into Hillary's campaign by Norman Hsu's "investment vehicle", only slicker and on a much grander scale.

At the time, WSJ and LAT (and to some extent WaPo and NYT) were covering the Norman Hsu story and political connections to Hillary campaign. For now, it seems only WSJ and NY Post are covering Madoff's extensive connections to prominent and rich Democrats. Wonder if this aspect of Madoff's fall will make it into major media. It's not as sexy as Blago's scandal, but the real impact is really bigger than just another corrupt Illinois Democrat politician.