Tuesday, November 13, 2012

FORMER MADOFF CONTROLLER PLEADS GUILTY

WSJ -  When Bernard Madoff was arrested on December 12, 2008, he stated nobody else was involved in or guilty of his giant Ponzie scheme of $billions. On November 8, 2012 - nearly 4 years after Madoff's arrest - the ninth employee of BLMIS,LLC, former controller Mr. Irwin Lipkin, pleaded guilty to criminal charges and will be sentenced March 22, 2013.  Mr. Lipkin started with BLMIS in 1964 when it was a 2-man outfit and was employed by BLMIS until 1998.  He has stated, "at no time prior to my departure was I aware of any Ponzie scheme" ( in spite of being controller for 44 years??). He also has stated he signed "myriad documents" he knew to be false.  His guilty plea included forfeiture of $170 billion, the same amount both Mr. Madoff and chief officer Mr. Frank DiPascali agreed to forfeit.  The Madoff Saga goes on and on!!

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