BERNIE BURN NOTICE GETS LONGER STILL (owed document shredding companies)

NY POST ^ | 5/28/09 | BRUCE GOLDING

[Liz]

Bankrupt Bernard Madoff's victim list grew; a court filing identified 232 of "all known creditors" ......bilked businesses are a Who's Who of high-tech, finance and communications -- IBM, Microsoft, Merrill Lynch, Bloomberg, Reuters and Verizon. The 10-page Bankruptcy Court filing of corporate creditors reveals perks Madoff enjoyed before his $65B Ponzi scheme collapse -- debts to Sherry-Lehmann Wines, and a limo service.....ownership of two Mercedes listed in wife Ruth's name. The scamster was in arrears to the Universal Safe Deposit Corp. and to Iron Mountain, which specializes in "secure" document shredding.

[Liz]

The WSJ reported the NY U.S. Atty’s office has uncovered documents suggesting large Madoff investors knew their returns were fraudulent. Some players got specific percentage returns that were agreed to in advance. That would suggest investors realized Madoff was running a scam. Prosecutors are continuing to probe Madoff family members and employees, but the investigation now includes investors who have claimed to be among the hardest-hit victims of the fraud, both directly and through their foundations. Aiding investigators is their discovery that Madoff was a "meticulous" record keeper who kept correspondence between some clients and the firm, said people familiar with the probe.

[visualops]

large Madoff investors knew their returns were fraudulent

I think that's a no-brainer.

[HOYA97]

Does that include any Dem contributors? (I know its a silly question but I just wanted to make sure somebody asked)

[SJSAMPLE]

And this will be the reasoning by which the Feds will “claw back” a few billion from the largest investors.

[Liz]

Scams are mother’s milk to Dems.

[Onelifetogive]

The scamster was in arrears to the Universal Safe Deposit Corp. and to Iron Mountain, which specializes in "secure" document shredding.

If I'm a document shredding company, I pack up the docs and store them until the check clears. If I'm not paid, I sell the docs to recoup my losses...

[Boiling Pots]

As they should.

[Liz]

Looks like that might have happened——the feds have notes Madoff made-—detailing specific percentage returns that “investors” wanted.

[SJSAMPLE]

As long as there’s EVIDENCE that they were a part of the fraud.

If a smart guy recently invested cash, and then decided that it was a scam, should he have his own assets seized because he was smart enough to see the scam for what it was?

I doubt the feds, especially under Obammy’s watch, will be as generous and discerning.

[SJSAMPLE]

I don’t think that’s possible.
Many of such companies are both bonded and insured.
And service contracts specifically state that all material remains the property of the company that printed them.

At least, that’s how it works for the document shredding company we contracted. In fact, every document is specifically contracted to be shredded ON-SITE.

[SJSAMPLE]

I don’t think that’s possible.
Many of such companies are both bonded and insured.
And service contracts specifically state that all material remains the property of the company that printed them.

At least, that’s how it works for the document shredding company we contracted. In fact, every document is specifically contracted to be shredded ON-SITE.

[Onelifetogive]

And service contracts specifically state...

The service contract also specifically states that the custom will pay the bill...hehehehe

[SJSAMPLE]

You can’t go to prison for not paying your bill.
You CAN go to prison for willfully disclosing private financial documents.

People think long and hard before handing over confidential documents to a third party. Our corporate lawyers MAKE SURE OF IT.

hehehehe ;)

[Onelifetogive]

You CAN go to prison for willfully disclosing private financial documents.

It is probably a good thing for all involved that I am not in the doc shredding business...