Madoff users recover 70% of the investment 10 years later




Steven Spielberg, John Malkovich and Kevin Bacon are just three of the most famous of those that Bernard L. Madoff has been gutting, but the total number of people affected is not known. You know that the money spent: US $ 65,000 million. Just today, 10th anniversary of the arrest of New York funding, when it exposed the largest pyramid scheme in the United States history.

It does not talk about the amount of money made to it; stop being an entelechy. Those that were $ 65,000 million were the assets that were handled by Bernard L. Madoff Investment Securities LLC, the financial manager, in December 2008, when the fraud was issued, after to & # 39; Madoff expresses children.

On the one day of the arrest, the SA funds (SIPC) asset warranted a professional distributor to try to get so much money from Madoff's clients. The person chosen by the lawyer was Irving H. Picard.

Picard, under the command of judgment, has spent ten years to complete a comprehensive analysis of who invested in Madoff manager, who has taken money … and his / her. making legal applications all over the world. Your results so far are excellent.

After analyzing in the depths of movements of those who were in a position; influenced, Picard and his team established that Madoff clients had invested 19,000 million dollars (far more than 65,000 million in the balance charts).

Once b & # 39; the amount can be recovered, the winner waited for applying the clients who gave back money from the manager before the tumor appeared.

"In the pyramid scheme created by Madoff, the value of the investments and the demands that customers received every month was fair. Therefore, it was decided that the bids were based on The inventories made, can be deducted. "The Court broke this approach," Picard explained in a statement issued fortnight ago.

"Some of Madoff's clients did not help get money out, although others got bigger sums. But it was not money money, but money stolen by Madoff from Other partitions. Part of the order is aimed at requiring those users to return the money, "said the lawyer.

Out of the 19,000 million targeted, the settlement has already found 13,300 million dollars (70%). Picard is working out that he could get another 4,000 million dollars again, which would be a 90% recovery regeneration.

When they were demolished to work in 2008, the stock in cash, bonds and shares was not successful at even 650 million euros. Following the appointment of a battleship of lawyers, he took legal action against the banks and financial managers who had removed their clients to Madoff's manager for years, promised to bring them back. The Spanish Santander Bank was the largest largest investor in the world. affecting, with 3,500 million dollars from private bank clients.

The pyramid scheme crash was very fast. Madoff paid guilty and only six months after his arrest was convicted to 150 years imprisonment.


Source link