Madoff’s scandal becomes more and more annoying while the press from one hand updates us with closing to end news and “life in prison” verdicts, and from the other hand the authorities that not succeed with making Madoff plead guilty (admitting on conspiracy charges in exchange for life). This story demonstrate best how lack of capabilities in the authorities hands, prevent from this story to be over. More than that, nowadays, sophisticated people like Madoff with lots of power in their hands and with strong attorneys beside them are able to push over the law and bend it so the result will be best for them.
Here you get to see some updates concerning this issue, which surely won’t be over in short term. For once I hope the law enforcements will be more ingenious than those who played, gambled and finally lost it all and now are trying to get out of it when the party is over. We saw how Madoff tricked the most sophisticated investor and now the ball is in the authorities’ hands. Let’s not forget that the state attorneys general is expecting a wave of new suits on financial frauds, something that needs bigger budget for its department. The bottom line is that maybe until now the government could close their eyes to sophisticated frauds in the financial markets but after the latest events, we understand that being technology speaking and financial development speaking, unprogressive is kind of disability, which in these days, is something we can’t allowed to ourselves.
For those of who want to drill down inside the accusations of Bernard madoff, find the following document.
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