Madoff’s Questionable Compliance

Come to find out, Bernard Madoff’s brother functioned as the Ponzi afficianado’s compliance officer at his investment company. Um, yeah. Isn’t that some sort of oxymoron? That’s what court-appointed trustee Irving Picard is asking. He’s suing Madoff’s brother, two sons, and niece – all leading employees with the company- for nearly $2 million. Picard’s attorneys claim the family members/employees shirked their duties. Plus, they supposedly fueled their lavish lifestyles on the company dime.  Check the story at Investment News. http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20091005/FREE/910059997/1022/ONLINENEWS

October 6, 2009 In: Uncategorized Comments (None)