Sounds like drug money, Russian Mafia money, no wonder this guys wants to be in taken in by the feds.
In more politically correct words, many wealthy people who "value their privacy":
"A lot of wealthy Colombians got burnt," said one leading Bogota businessman. But to date, no Colombian investor has acknowledged losing money in the Madoff affair. Colombia has a history of kidnappings and businessmen are generally wary of talking about their wealth in the media.
According to the article, many in Brazil, including "members of Brazil's large and wealthy Jewish enclave", invested in Madoff funds via private accounts banking services of Safra and UBS.
Madoff has targeted and screwed "his people" all over the world.
Scamming the drug cartels money?! 5 to 1 says Madoff gets fitted with cement galoshes before Spring arrives.
Wondering if Madoff really burned some Russian mob and/or drug cartel types..... if so he and his family may REALLY have to worry about their personal safety. I only know what I see in movies :^) but I wouldn’t think that those are the types of people to sit quietly forever if someone has defrauded them, even if the money was dirty and the whole set of transactions may have been illegal.
Still, if you’re some big-time mobster or drug cartel overlord, you probably live by making an example of anyone who screws you..... not to mention the simple, primitive lust for vengeance.