U.S.: Madoff was ready to send millions to relatives, friends
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U.S. prosecutors today ramped up their campaign to get accused Ponzi scheme master Bernie Madoff behind bars, telling a federal judge they found signed checks from Madoff ready to be sent to family, friends and employees just before he was arrested.
From Bloomberg News:
Investigators searching the office desk of Bernard Madoff after his arrest found about 100 signed checks, totaling about $173 million, ready to be sent to family, friends, and employees, prosecutors said. Assistant U.S. Attorney Marc Litt in Manhattan made the disclosure in a letter submitted today to U.S. Magistrate Judge Ronald Ellis, as part of a renewed request for the judge to jail Madoff prior to his trial. Prosecutors have previously disclosed that Madoff, before his Dec. 11 arrest, had said he wanted to transfer $200 million to $300 million of his investors’ money to ‘selected family, friends, and employees.’ Litt’s letter today indicates that Madoff was ready to send the money out. ‘The only thing that prevented the defendant from executing his plan to dissipate those assets was his arrest by the FBI on Dec. 11,’ Litt wrote in his letter.
On Monday prosecutors told the judge that Madoff and his wife in recent weeks had sent personal items, including valuable jewelry, to relatives and friends. The government said that violated the terms of a freeze on Madoff’s assets.
Madoff’s attorney, Ira Sorkin, said it was an innocent mistake.
But Litt told the judge in today’s letter that ‘the defendant’s recent distribution of jewelry and watches demonstrates a continuing intention to benefit those close to him to the detriment of his victims.’
-- Tom Petruno