Once again, we see how the rich stay rich------these people belong in jail. Their investments are classic tax evasion-money laundering schemes. The investors collude with the Ponzi schemer from the getgo-----even a so-called loss is a tax writeoff.
Hamptons Mega Mansion of Ira Rennert, Founder of Renco Group.
This Sagaponack, NY, obscenely gargantuan mansion, dubbed Fairfield, is reportedly the largest occupied residential compound in America Square Feet: 66,000 / 110,000 (including outbuildings). It is situated on 63 prime acres and houses 29 bedrooms and 39 bathrooms. It also has a dining room that stretches 90 feet long, a bowling alley, two tennis courts, a squash court, a 164 seat movie theater, and a 200 car garage. This home also contains a rather rare item; its own power plant. Fairfield is currently valued at more than $185 million.
SOURCE hubpages.com/hub/Top-Ten-Mega-Mansions
MEGA MANSION HAS TAX EVASION WRITTEN ALL OVER IT Hamptonites complain this astoundingly palatial mega-mansion in the posh Hamptons is actually a "synagogue-residence-yeshiva" for Orthodox Judaism students. The complex---which rivals Versailles and Buckingham Palace----was built by Fifth Avenue Synagogue board chair, Ira Rennert---where Madoff and many of his investors also worshipped. Ira Rennert, was deeply invested w/ Madoff.
Bayou Fund was a famous hedge fund that turned into a scam.
Citi Field aka CitiCorp - the biggest business scam in US history. Bailed out to the tune of $380 billion - Rubin, Prince Al Waleed and many other criminals.