Barbara and Jeffrey Picower
Posted on 09/28/2009 4:35:14 PM PDT by Liz
It was recently uncovered that Madoff kept detailed notes about his activites and that some "investors" made deals, demanding specific returns on investments.....meaning they were in on the scam. Some investors also wrote Madoff personal checks......evidence of tax evasion and money laundering.
Jeffrey Picower and Stanley Chais, two philanthropists who are the target of lawsuits brought by Irving Picard, the trustee liquidating the Madoff firm. Garmento Carl Shapiro, a close friend of Madoff, is also under criminal investigation....... Authorities are going after these people under the legal concept of "fraudulent conveyance"----meaning one cannot profit from a fraud.
REFERENCE CBS' 60 Minutes reported 9/27/09: Madoff's detailed notes reveal Jeffrey Picower---a major Planned Parenthood backer---was receiving a return of some 950%. According to the court-appointed trustee Irving Picard, this indicated Picower was in on the Ponzi scheme and was profiting at the expense of other investors. As a savvy businessman and investor, Picower should have known 950% was an outlandish return, Picard indicated.
Bernie was hightailing it to global money-laundering havens just before he got nailed. $12B was pulled out of Bernard L. Madoff’s firm in 2008, and $6B just three months before he was arrested last Dec.....BVI's Vizcaya Partners Ltd. and Gibraltar-based Banque Jacob Safra Ltd. got $150M (that we know of) about six weeks before Madoff was exposed.
REFERENCE FR Posted 05/18/2009 by CutePuppy
EXCERPT U.S. prosecutors have broadened their criminal investigation of the Bernard Madoff case to at least eight investors and associates, The Wall Street Journal reported......named as under investigation by the US Attorney's Office, are Jeffry Picower and Stanley Chais, two philanthropists who are the target of lawsuits brought by the trustee liquidating the Madoff firm. Carl Shapiro, a women's clothing entrepreneur and close friend of Madoff, is also under criminal investigation....... Investigators have gathered evidence of Picower and Chais telling Madoff how much in returns they wanted and that their accounts would reflect the amounts, the paper said. It said investigators were also reviewing evidence suggesting Shapiro knew his returns were fraudulent. (Excerpt) Read more at cnbc.com ...
Barbara and Jeffrey Picower
The Florida-based Picower Foundation worth $1 billion was one of the top financial backers of the abortion industry. The charity has given away more than $189 million since 1999 and a sizable chunk of the money went to abortion advocates, including $3.2 million to NARAL, $2.5 million for the Center for Reproductive Rights, $2.4 million for Planned Parenthood, and $625,000 for the Center for Reproductive Law and Policy, according to reporting by the American Spectator. Barbara Picower started the foundation with her husband, investor Jeffry Picower, in 1989. The foundation was said to be shutting down because of Ponzi crook Bernard Madoff.
Barbara Picower, co-founder of the Picower Foundation, in a 2000 file photo with one of the recipients of her "charity."
(Sun Sentinel/NICHOLAS R. VON STADEN / December 8, 2000)
The Picower Foundation
1410 South Ocean Blvd
Palm Beach, Fla 33480
Tele 561-835-1332
Geographic Focus: Florida; New York;
SOURCE http://www.tgci.com/funding/fdnresultnew.asp?thisID=19499
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 not only personally invested with Madoff, but he 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.
Washington, DC (LifeNews.com) -- The Madoff fundraising scandal has had some beneficial fallout for the pro-life movement. Combined with the current economic downturn, the Planned Parenthood Federation of America is feeling the pinch and has laid off 20 percent of its staff. The nation's largest abortion business, which does 25 percent of all abortions in the United States annually, laid off about 30 people this week. Executives at Planned Parenthood confirmed the layoffs in an interview with the Crain's New York business publication.
“As with many other nonprofit organizations, Planned Parenthood has had to make staff reductions at our headquarters due to the challenging economic times facing our country,” Planned Parenthood chief operating officer Maryana Iskander said. “While taking this action is never easy, we want to ensure the millions of women and men who rely on Planned Parenthood as a health care provider that the reductions will not impact our ability to deliver care to those in need," Iskander added. What Iskander didn't discuss is the effect of the Madoff scandal on Planned Parenthood's income.
The Florida-based Picower Foundation, which gave substantial donations to the abortion business, shut down in December because Bernard Madoff had mismanaged its assets. The foundation was worth $1 billion and one of the top financial backers of pro-abortion groups. The charity has given away more than $189 million since 1999 and a sizable chunk of the money went to abortion advocates, including $3.2 million to NARAL, $2.5 million for the Center for Reproductive Rights, $2.4 million for Planned Parenthood, and $625,000 for the Center for Reproductive Law and Policy, according to the American Spectator.
The JEHT Foundation, which gave away $24 million last year to groups, including pro-abortion organizations, also announced in December that it would be shutting its doors. JEHT gave $1.7 million to the ACLU and its foundation and $4.2 million to the Tides Foundation, which heavily funds pro-abortion groups. News of the Planned Parenthood Federation of America laying off staff comes on the heels of one of its affiliates doing so.
Planned Parenthood of Minnesota, North Dakota and South Dakota said in December that hard economic times forced it to lay off 10 employees covering nine and a half positions including its South Dakota director. South Dakota director Kate Looby, who has overseen the lone South Dakota abortion business, run by Planned Parenthood in Sioux Falls, since 2003, confirmed she would be fired form her position
SOURCE http://www.lifenews.com/state3682.html
Pickower must have gotten investment lessons from Hillary ;-)
If theft wasn’t bad enough, he used the ill gotten money to assist abortions.
Just when I think I've heard and seen it all, something like this statement pops up.
What was Hillary’s parallel act? I’m cudgeling my brain in vain.
May the system grind them thoroughly.
Hillary invested 1,000 in a stock option, and (eventually) made 100,000.00
About time. What about Merkin? He’s the big fish.
Surely you remember Mrs. Clinton's legendary Commodity trading wizardry ...
Pales in comparison to this Madoff scam (Billions of dollars vs 100K) - but still obvious theft and manipulation of the markets...
Source please. You have Free Republic as the source coming back to this site. But Reuters listed as the “author”.
One can’t quote anything without a reliable source.
Very good blood lines on the bull ...or was it “beef” ...investment.....
The 950% return is fairly high That means I invest $1,000 and get $950,000 back. Of course, it's less when taxes are taken out. :)
Reminds of something a simple but very successful businessman one told me about how he made his money. "I make something that costs $1. I sell it for $5. I find I can live decently off that 4%."
Cattle futures, actually, IIRC.
It was the most blatant political payoff in history, that is until Obama gave Soros and Brazil billions of taxpayer dollars a few weeks ago.
She didn’t get caught in an outright scam like Madoff, but it’s telling that the sleaze of the situation has been quite forgotten in the flood of Rat sewage.
9,500, not 950K.
Nope. Cattle futures. See http://www.washingtonpost.com/wp-srv/politics/special/whitewater/stories/wwtr940527.htm for the details.
The problem is that they were amateurs.
If you want to run a Ponzi scheme for years you need to be the federal government.
She only turned her $1,000 into $6,300 overnight (a 193,450% annualized rate of return).
It took her ten whole months to turn her $1,000 into $100,000 (a mere 11,880% annualized rate of return).
Of course, Hillary is The Smartest Woman in America.™
And, unfortunately, both Blair and Red Bone are dead and both went to their graves without telling the truth about how Shrillary! was the beneficiary of having completed trades assigned to her account after the fact.
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