Difference between revisions of "Bernard Madoff"
RichardSears (Talk | contribs) |
m (Reverted edits by RichardSears (Talk) to last version by Aschlafly) |
||
| Line 1: | Line 1: | ||
[[Image:Madoff.jpg|right]] | [[Image:Madoff.jpg|right]] | ||
| − | '''Bernard L. Madoff''' (born April 29, 1938) is the founder of Bernard L. Madoff Investment Securities, and the central figure of the [[Ponzi scheme]] story broken on December 11, 2008 | + | '''Bernard L. Madoff''' (born April 29, 1938) is a registered [[Democrat]], former chairman of the [[Nasdaq]] stock exchange, founder of Bernard L. Madoff Investment Securities, and the central figure of the [[Ponzi scheme]] story broken on December 11, 2008. Over 13,000 investors, especially from the Jewish community, lost upwards of $50 billion. |
He was arrested and charged on [[December]] 11 with securities [[fraud]]. His company was, according to his own words after his arrest, "Basically a giant Ponzi Scheme." <ref>http://edition.cnn.com/2008/US/12/11/madoff.arrest/?iref=mpstoryview Former Nasdaq chairman charged with fraud.</ref> He pleaded guilty on March 12, 2009, and was put in jail. He will be sentenced in June, and observers expect he will spend the rest of his life in prison. | He was arrested and charged on [[December]] 11 with securities [[fraud]]. His company was, according to his own words after his arrest, "Basically a giant Ponzi Scheme." <ref>http://edition.cnn.com/2008/US/12/11/madoff.arrest/?iref=mpstoryview Former Nasdaq chairman charged with fraud.</ref> He pleaded guilty on March 12, 2009, and was put in jail. He will be sentenced in June, and observers expect he will spend the rest of his life in prison. | ||
Revision as of 01:48, April 21, 2009
Bernard L. Madoff (born April 29, 1938) is a registered Democrat, former chairman of the Nasdaq stock exchange, founder of Bernard L. Madoff Investment Securities, and the central figure of the Ponzi scheme story broken on December 11, 2008. Over 13,000 investors, especially from the Jewish community, lost upwards of $50 billion.
He was arrested and charged on December 11 with securities fraud. His company was, according to his own words after his arrest, "Basically a giant Ponzi Scheme." [1] He pleaded guilty on March 12, 2009, and was put in jail. He will be sentenced in June, and observers expect he will spend the rest of his life in prison.
Before his arrest and during much of his life, Madoff was involved in philanthropy.
Silver Lining
Abortion groups invested heavily in Madoff. The result, Planned Parenthood is laying off about 20 percent of its staff. Another Madoff investor, the Florida-based Picower Foundation shut down in December. The foundation was worth $1 billion and is one of the top financial backers of pro-abortion groups. The JEHT Foundation gave $24 million in 2008 to abortion groups as well as the ACLU, also announced closing its doors in December. [2]
Campaign Contributions
Madoff gave considerable financial support to the Democratic party. A partial list of Democrat campaign contributions from Madoff; [3] [4]
- Sen. Charles Schumer, D-N.Y.: $10,000.
- Sen. Hillary Rodham Clinton, D-N.Y.: $1,000.
- Rep. Richard Gephardt, D-Mo.:$ 2,000.
- Rep. Charles Rangel, D-N.Y.: $2,000.
- Sen. Chris Dodd, D-Ct.; $1,500.
- Sen. Frank Lautenberg, D-N.J.: $11,200.
- Gov. Jon Corzine, D-N.J.: $1,000.
- Rep. John Dingell, D-Mi.: $1,000.
- Rep. David Obey, D-Wi.:$1,000.
- Democratic Senatorial Campaign Committee: $102,000.
Sentencing
Madoff went to court on March 12, 2009. He now lives in a small jail cell with cinderblock walls, instead of his multi-million dollar Manhattan penthouse.[5]
External links
References
- ↑ http://edition.cnn.com/2008/US/12/11/madoff.arrest/?iref=mpstoryview Former Nasdaq chairman charged with fraud.
- ↑ Madoff Scandal Rocks Pro-Abortion Groups NewsMax, January 12, 2009
- ↑ Who'da thunk? Dems made off with Madoff loot! WND, March 11, 2009
- ↑ Madoff and Company Spent Nearly $1 Million on Washington Influence OpenSecrets
- ↑ http://news.yahoo.com/s/ap/20090313/ap_on_re_us/madoff_scandal
