Letters to Court About Madoff Released; Many Writers Call for More Scrutiny
Responding to a news media request, federal prosecutors in Manhattan today released dozens of letters and e-mails sent to the federal court handling the criminal case against Bernard Madoff.
Many writers urged the justice system not to go easy, either on sentencing Madoff in a gargantuan Ponzi scheme that could total up to $65 million, or in investigating the role that others allegedly may have played in perpetuating the fraud for many years, according to a Wall Street Journal (sub. req.) article that links to copies of the letters.
“We believe that Madoff is still obstructing justice by plea bargaining to protect co-conspirators,” says a March 9 letter written by an engineer and a paralegal whose names have been redacted.
At the same time that the couple, who are in their mid-sixties, have had 30 years of retirement savings wiped out by the fraud, they write, they are forced to watch “an outrageous situation in which our funds are being used for his private security, his attorneys and the upkeep on his multiple dwellings, yachts and other booty.”
Since then, the situation has changed somewhat, as discussed in earlier ABAJournal.com posts: After pleading guilty, Madoff has been jailed, pending sentencing, as a security risk. Another person (his storefront accountant) has been charged with securities fraud. And authorities are seeking forfeiture of essentially all assets held by Madoff’s wife, who is not herself accused of any wrongdoing.
Earlier coverage:
ABAJournal.com: “Appeals Court Denies Bail for Madoff, Cites Chance of Hidden Assets”
ABAJournal.com: “Madoff’s Storefront Accountant Is Charged with Securities Fraud”
ABAJournal.com: “Feds Seek $100M From Madoff’s Wife, Including $7M Yacht”
ABAJournal.com: “Experts Say Madoff Must Have Had Help With Alleged $50B Ponzi Scheme”
