God, I love the internet.
Well, as far as I can gather, the total amount invested was closer to $13.5bn. $65bn was the total of what people thought their accounts were worth.
It seems that Jeffry Picower, one of Madoff’s big clients, and initially listed as one of his “victims”, actually withdrew $5.1bn more than he invested – netting him far more than Madoff himself.
Good article here:
http://www.propublica.org/feature/madoff-client-jeffry-picower-netted-5-billion
Of course, the trustees in the Madoff case are going after him. Two more like him, and now you know where the money went.
No comments:
Post a Comment