FEDERAL RESERVE INFO A FACTOR? Madoff's connections to J Ezra Merkin and Stephen Fineberg's company---Cerebrus---could also mean the connivers were stealing Federal Reserve insider info. Ex-Treasury Sect John Snow headed Cerebrus. Knowing Federal Reserves moves in advance would make zillions for the thieves...........on top of the billions they were swilling elsewere. These termites were running rampant allover the US government---Merkin and Feinberg's auto companies received billions in govt bailouts.
Chrysler/Cerebrus’ Fineberg and GMAC/ Merkin-----also co-owned an offshore bank in which to stash the loot......out of sight of the IRS and US banking laws. Betcha dollars to donuts Madoff was in on that scam, too.
BACKSTORY GMAC chair J Ezra Merkin (a Madoffian) and Chrysler's Stephen A. Feinberg (owns private equity firm---Cerberus Capital Management LP). The two partnered to buy Bank Leumi from the Israeli government for $500 million.
BAILOUT SWILLERS Stephen A. Fineberg's private equity firm---Cerberus Capital Management LP--- also owns Chrysler Motors. The US Treasury bought a $5 billion stake in GMAC, and lent $1 billion to GM. This latest loan is IN ADDITION to the $13.4 billion the US Treasury lent earlier to J Ezra Merkin's GM, and Fineberg's Chrysler.
SWILLING TIMELINE In 2006, GM sold 51% of Merkin's GMAC to Feinberg's private equity firm Cerberus Capital Management LP (which also owns Chrysler).
HOGGING AT THE PUBLIC TROUGH In May 2004, Feinberg's "private investment group," Cerberus Capital Management, LP (Cerebrus is the three-headed dog that guards Hades), became majority owner of IAP Worldwide Services, Inc, one of the US Army’s largest contractors in Iraq. In Afghanistan, Feinberg's IAP runs a drug/addiction center" in Kunduz---Kunduz is the largest opium supplier in the world. BUSY LITTLE BEAVER IAP also provides infrastructure support for the British Ministry of Defence in Kandahar....apart from supporting the US Army in Basra.
TIMELINE On October 19, 2006, John W. Snow, Secretary of the Treasury under George H.W. Bush, was named head of Cerebrus.
BAILED OUT AND STILL SWILLING Stephen A. Feinberg's IAP also serves a broad array of federal clients including the US DOD, NASA, the US Geological Survey, the US Agency for International Development, the IRS, and a variety of other federal agencies.
MADOFF'S SIB PETER FACES DEEP FREEZE (can spend $10,000 p/m) Bernie Madoff's investment business partner and brother, Peter, secretly signed a deal with federal prosecutors on Christmas Eve to voluntarily freeze his assets. That deal came to light as Peter's lawyer unsuccessfully asked a Brooklyn appeals judge to toss out a temporary freeze on Peter's assets obtained last week by a 22-year-old law student whose $480,000 trust fund was lost in Bernie's Ponzi scheme. Peter Madoff -- who has not been criminally charged -- was trustee of the fund belonging to Andrew Ross Samuels, and had placed that fund in Bernie's clutches. Peter's voluntary freeze agreement to with prosecutors allows him to spend up to $10,000 per month on living expenses, and requires him to provide receipts for any transaction of more than $150. But the temporary freeze obtained by Samuels from a Nassau County Supreme Court judge is much stricter: It bars Peter from withdrawing money from any account or selling property. SOURCE http://www.nypost.com/seven/04012009/business/madoffs_sib_peter_faces_deep_freeze_162260.htm
Bernie Madoff's brother and business partner secretly signed a deal to voluntarily freeze assets......as Peter's lawyer unsuccessfully asked a judge to toss out a temporary freeze obtained by a 22-year-old law student. Peter has not been criminally charged -- he was trustee of Andrew Ross Samuels $480,000 trust fund, and placed it in Bernie's clutches. Peter's agreement lets him spend up to $10,000 per month on living expenses....he must provide receipts for transactions over $150. .....the newer freeze bars Peter from account withdrawals, or property sales. Whistleblower Harry Markopolos says Madoff’s brother Peter audited the firm’s investments and that ONLY Peter Madoff was "authorized to audit" fund performance "for reasons of secrecy".
Among other things, Peter Madoff was a Chief Compliance Officer at his brother Bernie's firm. Peter was also a director of several securities associations and exchanges. Peter's daughter Shana, was Bernie' firm's compliance officer.
Here's Peter Madoff's house.
As the No. 2 executive at Bernard L. Madoff Investment Securities LLC, Peter Madoff worked side by side with his older brother Bernard for nearly 40 years. Peter was viewed as Bernie's heir apparent so the brothers tried to avoid flying together when they went on skiing trips together. Now, they are keeping their distance. Peter has stopped coming into the office and isn't talking publicly about his role at the securities firm, where he headed trading operations.
Peter's daughter Shana (married to a SEC exec who now works elsewhere) also joined the family business. She worked primarily as a "compliance lawyer" at Madoff Securities' market-making arm at the time of her uncle's arrest.
THE RELIGIOUS, SOCIAL, AND BUSINESS LABYRINTH OF
4800 INVESTORS MADOFF USED TO RAKE IN BILLIONS.
MAP IS INTERACTIVE AT WEB SITE
WEB SITE http://news.muckety.com/2008/12/28/madoff-used-social-family-networks-to-rake-in-billions/9031
ANOTHER MADOFF FEEDER FUND Brighton Co Investments is headed by Stanley Chais, a Beverly Hills "philanthropist" who served on "charitable" boards with Madoff. Chais (pronounced Chase) told the Jewish Journal of Los Angeles that he personally invested with Madoff but also "facilitated" others who wished to do likewise. However, spokesmen for the SEC and the California Dept of Corporations said they could find no record of Chais registering as an investment advisor or a broker.
Stanley Chais offers remarks at the Weizmann Institute of Science.